Bert Johnson, a sole proprietor with no employees, has a Keogh profit sharing plan to which he
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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.
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Related Book For
South-Western Federal Taxation 2019 Individual Income Taxes
ISBN: 9781337702546
42nd Edition
Authors: James C. Young, William H. Hoffman, William A. Raabe, David M. Maloney, Annette Nellen
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