1. Business
  2. Accounting
  3. kathy is 48 years of age and selfemployed during 2018...

Question: kathy is 48 years of age and selfemployed during 2018...

Question details

Kathy is 48 years of age and self-employed. During 2018 she reported $108,000 of revenues and $43,200 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a simplified employee pension (SEP) IRA for 2018? (Round your final answer to the nearest whole number)

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution