Frank Is a Self-Employed CPA Whose 2012 Net Earnings from His

question 77

Multiple Choice

Frank is a self-employed CPA whose 2012 net earnings from his trade or business (before the H.R.10 plan contribution but after the deduction for one-half of self-employment taxes) is $240,000.What is the maximum contribution that Frank can make on his behalf to his H.R.10 (Keogh) plan in 2013?

• A)$62,500
• B)$48,000
• C)$51,000
• D)$60,000

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Definitions:

Christian Presence

The existence or participation of Christian beliefs, practices, or influences in a specific area or social context.

Media Attention

The focus or coverage that media outlets give to specific events, individuals, or topics.

Religious Creed

A formal statement of beliefs, often faith-based, that outlines the core principles of a religion.

Observance

The act of following, celebrating, or adhering to a specific tradition, rule, or ceremony.