Tessa Is a Self-Employed CPA Whose 2015 Net Earnings from Her

question 33

Multiple Choice

Tessa is a self-employed CPA whose 2015 net earnings from her business (before the H.R.10 plan contribution but after the deduction for one-half of self-employment taxes) is $400,000.What is the maximum contribution that Tessa can make on her behalf to her H.R.10 (Keogh) plan in 2015?

• A)$100,000
• B)$80,000
• C)$66,250
• D)$53,000