Kathy Is 60 Years of Age and Self-Employed

question 33

Multiple Choice

Kathy is 60 years of age and self-employed. During 2020 she reported $100,000 of revenues and $40,000 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 SEP IRA for 2020? (Round your final answer to the nearest whole number.)

• A)$11,152.
• B)$17,152.
• C)$63,500.
• D)$57,000.

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Definitions:

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A marketing strategy that encourages individuals to share a marketing message to others, creating a potential for exponential growth in the message's exposure and influence.

Product Reviews

Evaluations or assessments of a product's performance, quality, or suitability, often written by consumers or professional critics.

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Face-to-face Communication

Direct interaction between individuals, allowing for immediate feedback and non-verbal cues in the exchange of information.