ZuoTi.Pro
Question

Beth operates an unincorporated business and has two employees. She contributes the maximum percentage herself and her e...

Beth operates an unincorporated business and has two employees. She contributes the maximum percentage herself and her employees to the SEP SHE MAINTAINS THROUGH HER BUSINESS. WHAT IS THE MAXIMUM PLAN PERCENTAGE BETH USES TO CALCULATE THE COTRIBUTION FOR HER EMPLOYEES A) 25% B) 20% C)15% D)13.0435%

business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

For a SEP she contribute 15% or a maximum of 25,000 for the employees she has a firm unincorporated business for.

Option C

0 0
Add a comment
Know the answer?
Add Answer to:
Beth operates an unincorporated business and has two employees. She contributes the maximum percentage herself and her e...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Serena is a 40-year-old single taxpayer. She operates a small business on the side as a...

    Serena is a 40-year-old single taxpayer. She operates a small business on the side as a sole proprietorship. Her 2018 Schedule C reports net profits of $5,624. Her employer does not offer health insurance. Serena pays health insurance premiums of $7,545 in 2018. Serena also pays long-term care insurance premiums of $600 in 2018. Calculate Serena’s self-employed health care deduction. $____________ Evan participates in an HSA carrying family coverage for himself, his spouse, and two children. In 2018, Evan has...

  • Prof. Business realizes she is entering the last quarter of her career and is considering retirement...

    Prof. Business realizes she is entering the last quarter of her career and is considering retirement in 8 years. She is in a self-managed defined contribution pension plan and through automatic payroll deduction and University matching both based on mandated percentages of her salary $1300/month is currently deposited into her pension plan. Due to the lack of recent raises at her public university, she doesn’t plan on these monthly contributions increasing much if any over the next 8 years. Prof....

  • Leona owns her own business and works full time in the store without paying herself a...

    Leona owns her own business and works full time in the store without paying herself a salary. She has $20,000 of her own money invested in the store that she withdrew from her savings account, which earned 10 percent interest. She was offered a job last year making $28,000 per year, but turned it down. If Leona's accounting statements show revenues of $100,000 and accounting costs of $60,000, then Leona's A. accounting profit is $20,000, and her economic profit is...

  • For each taxpayer, compute the maximum contribution to the retirement plan. a. Lewis, a self-employed individual,...

    For each taxpayer, compute the maximum contribution to the retirement plan. a. Lewis, a self-employed individual, has net earned income of $50,000 in 2018. If Lewis has no employees, calculate the maximum contribution to a SEP plan that he may deduct from his adjusted gross income. $_____________ b. During 2018, Linda, age 32, has a salary of $40,000. She participates in a Section 401(k) plan and chooses to defer 25 percent of her compensation. What is the maximum amount Linda...

  • Josie has just become eligible to participate in her company’s retirement plan; she is excited as...

    Josie has just become eligible to participate in her company’s retirement plan; she is excited as her company matches her contributions dollar for dollar in this plan. The plan averages an annual return of 7% interest compounded monthly. Josie is 35 years old and plans to retire at age 65. She receives her pay at the beginning of each month and contributes 10% of her gross monthly salary of $2,500 into her retirement plan. What is the total amount that...

  • Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant...

    Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth's birthday is July 4, 1972, and her Social Security number is 123-45-6785. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information is...

  • Julie operates a small aerobics studio, Yumba, Inc. She started her business on 01/01/17. Below are...

    Julie operates a small aerobics studio, Yumba, Inc. She started her business on 01/01/17. Below are a list of transactions and financial events that took place during the fiscal year-end 2017. She has been authorized by the state of Oregon to sell up to 500 shares of common stock ($1 par value). Please prepare an income statement on the accrual basis and a statement of cash flows. Yumba issues 250 shares to Julie for $75,000. Julie takes out a 5...

  • Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant...

    Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth's birthday is July 4, 1972, and her Social Security number is 123-45-6785. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information is...

  • Question 2 Vera operates a specialty cake shop and she can make and sell 15 specialty...

    Question 2 Vera operates a specialty cake shop and she can make and sell 15 specialty cakes per day. The sales price of each specialty cake is $65. Vera works 6 hours per day and she pays herself $20/hr. The material cost for each specialty cakes is S15 and the overhead cost per day is $25. (a) Calculate the daily multifactor productivity. (b) Compute the percentage change on the multifactor productivity under cach of the following situation: (1) ASI increase...

  • Leann, with a $300,000 bequest from her father and a business degree from Athabasca University, is...

    Leann, with a $300,000 bequest from her father and a business degree from Athabasca University, is considering opening a gift shop in North Edmonton. If her shop is highly successful, she expects an annual net profit of $220,000. If the business is moderately successful, she expects $130,000. If not successful, she expects to have zero net profit. Under any circumstances, she is not contemplating any loss. Her anticipated probabilities of these three options are: 0.5, 0.3 and 0.2, respectively. a)...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT