Tessa Is a Self-Employed CPA Whose 2017 Net Earnings from Her

question 28

Multiple Choice

Tessa is a self-employed CPA whose 2017 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 2017?

• A)$100,000
• B)$80,000
• C)$66,250
• D)$54,000

---

Definitions:

Resiliency

The ability of an individual to recover from stress, adversity, or challenges, showing mental toughness and flexibility.

Self-concept

An individual’s understanding and evaluation of their own behaviors, abilities, and unique characteristics.

Middle Childhood

A developmental stage that typically includes children from about 6 to 12 years old, characterized by significant growth in social, cognitive, and emotional areas.

Cognitive Development

The process by which individuals acquire and develop the ability to think, understand, learn, and remember, reflecting changes in mental capabilities throughout the lifespan.