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  3. andy is the sole owner of a small business. he has

Andy is the sole owner of a small business. He has two full-time employees. To...

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Accounting

Andy is the sole owner of a small business. He has two full-time employees. To prepare for his retirement Andy has established a Keogh plan to which he contributes 15% of his income each year.

Andy's business can deduct this amount on its taxes even if Andy does not allow his two employees to participate in the Keogh plan.

True

False

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