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Yvette is a 44-year-old self-employed contractor (no employees). During 2020, her Schedule C net income was $504,000. Assume Yvette has no contributions to other retirement plans. What is the maximum amount that Yvette can contribute to (1)a SEP IRA and (2)an individual 401(k)? (Round your answers to the nearest whole number.)
Investment Opportunity
An economic or financial situation in which one might invest money with the expectation of achieving a positive return.
Combined Turnover
The total revenue generated from all sources by a company or group of companies, without deducting any costs or losses.
Investment Opportunity
A potential venture or avenue through which an investor can put money into assets or projects expecting a favorable financial return.
Combined Return On Investment
A measure assessing the total financial return of different investments or the aggregate performance of an entire investment portfolio.
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