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Kathy is 60 years of age and self-employed. During 2019 she reported $107,000 of revenues...

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Accounting

Kathy is 60 years of age and self-employed. During 2019 she reported $107,000 of revenues and $41,400 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 2019? (Round your final answer to the nearest whole number.)

Multiple Choice

  • $12,193.

  • $17,159.

  • $61,700.

  • $54,700.

Kathy is 48 years of age and self-employed. During 2019 she reported $106,000 of revenues and $42,400 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 2019? (Round your final answer to the nearest whole number.)

Multiple Choice

  • $11,821.

  • $17,155.

  • $61,300.

  • $55,000.

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