Bert Johnson, a sole proprietor with no employees, has a Keogh profit sharing plan to which he
Question:
Bert Johnson, a sole proprietor with no employees, has a Keogh profit sharing plan to which he may contribute 25% of his annual earned income. For this purpose, “earned income” is defined as net self-employment earnings reduced by the:
a. Deductible Keogh contribution.
b. Self-employment tax.
c. Self-employment tax and one-half of the deductible Keogh contribution.
d. Deductible Keogh contribution and one-half of the self-employment tax.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
d Deductible ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Question Posted:
Students also viewed these Business questions
-
For this purpose every organization is paying attention to provide best and competitive pay structure to its existing and new employees So it helps the organization in retaining the existing...
-
Bert has just been hired by your company as a summer co-op student and has been assigned to assist you. Bert is puzzled about why your company is calculating IRR and payback periods for investment...
-
A firm currently has an overfunded defined benefit pension plan and is short of cash. The chief financial officer (CFO) is considering terminating the defined benefit plan to recapture the excess...
-
Copper Industries (a sole proprietorship) sold three 1231 assets during 2015. Data on these property dispositions are as follows: a. Determine the amount and the character of the recognized gain or...
-
What are some of the attractive properties of hot isostatic pressed products?
-
Repeat Problem 1 for the following gears: N = 28; P d = 20 Problem 1 A gear has 44 teeth of the 20, full-depth, involute form and a diametral pitch of 12. Compute the following: (a) Pitch diameter...
-
Plaintiff purchases a new car that has defects in its paint job. Three times the dealership repaints the care, but to no avail. The plaintiff continues to drive the car as he has no other option in...
-
During the second half of December 20-1, TJ's Specialty Shop engaged in the following transactions: Dec. 16 Received payment from Lucy Greene on account, $1,960. 16 Sold merchandise on account to Kim...
-
(5) A small maintenance project consists of the following jobs whose precedence relationships are given below: Job 1-2 1-3 2-3 2-5 3-4 Immediate Predecessor 15 15 3 5 8 8 Activity 3-6 4-5 4-6 5-6 6-7...
-
Wilhelm Kohl started a business in May 20-- called Kohls Home Repair. Kohl hired a part-time college student as an assistant. Kohl has decided to use the following accounts for recording...
-
Milton is a resident of Mobile (Alabama) and is employed by Scaup Corporation. Because Scaup closed its Mobile office, Milton no longer has any nondeductible commuting expenses although he continues...
-
In 2017, Emma purchased an automobile, which she uses for both business and personal purposes. Although Emma does not keep records as to operating expenses (e.g., gas, oil, and repairs), she can...
-
Based on a study of acid rain, the National Acid Precipitation Assessment Program (NAPAP) estimates the probability at .14 of an Adirondack lake being acidic. Given that the Adirondack lake is...
-
What action is taken by the Internal Revenue Service to punish individuals who engage in improper financial transactions involving nonprofits?
-
Ingrid Dodson is a staffing specialist at a K-12 tutoring company. The tutoring company is expanding beyond their current writing and math tutoring services and will also offer financial tutoring...
-
Find and share a resource that compares the Agile Manifesto to PMBOK standards and address the following (you will have to search outside of the reading assignments for this Module): Define Each What...
-
Adherence to and development of the Common Law is the cornerstone of the American legal system. Briefly explain how the common law developed over time, how the common law canon (a legal canon is a...
-
Element Corporation has 2 divisions: The Cushion Division and the Chair Division. You are the Vice President in charge of the Cushion Division. Your Cushion Division is a profit center. Each division...
-
At January 1, 2015, Bohemia Nursery Ltd.'s balance sheet reported the following shareholders' equity: Shareholders' Equity Contributed capital: Preferred shares, $0.75, cumulative (3 years in...
-
Why is it important to understand the macro-environment when making decisions about an international retail venture?
-
At the beginning of the tax year, Melodie's basis in the MIP LLC was $60,000, including Melodie's $40,000 share of the LLC's liabilities. At the end of the year, MIP distributed to Melodie cash of...
-
At the beginning of the tax year, Melodie's basis in the MIP LLC was $60,000, including Melodie's $40,000 share of the LLC's liabilities. At the end of the year, MIP distributed to Melodie cash of...
-
At the beginning of the tax year, Melodie's basis in the MIP LLC was $60,000, including Melodie's $40,000 share of the LLC's liabilities. At the end of the year, MIP distributed to Melodie cash of...
-
3. Draw the logic diagram of the SOP minimized circuit 4. Use De Morgan's theorems to express the simplest SOP in terms of NAND operators. 5. Use the Karnaugh map method to find the simplest...
-
1. Consider the modification of the master-slave latch pair given in Fig. 1. a) Under a regularly changing clock CK, specify the sequence y1, 92, 93, 94 of output signals appearing at Q at the end of...
-
3.99 Write ARM assembly code to implement the following C statements, assuming all variables are 32-bit integers and a declaration of x[10], y[10]: for i=0; i < 10; i++) x[i] = 10 -1; v[9 - i] = 1;
Study smarter with the SolutionInn App