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ACCOUNTING - Pension Plans Determine the maximum contribution that can be made to a Keogh...

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Accounting

ACCOUNTING - Pension Plans

Determine the maximum contribution that can be made to a Keogh plan in each of the following cases. In all instances, the individual is self-employed, and the self-employment tax reduction has already been taken. SHOW EACH STEPS WORK AND CALCULATIONS.

A-Self-employment income of $49,000.

B-Self-employment income of $49,000 and wage income of $31,500.

C-Self-employment income of $120,000.

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