Tessa Is a Self-Employed CPA Whose 2013 Net Earnings from Her

question 28

Multiple Choice

Tessa is a self-employed CPA whose 2013 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 2013?

• A)$100,000
• B)$80,000
• C)$62,500
• D)$51,000

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Definitions:

Line Structure

A simplified representation of a chemical structure using lines to represent chemical bonds and showing the arrangement of atoms within molecules.

Alcohol-congener Levels

Quantitative measures of byproducts produced during fermentation, including congeners that can impact the flavor and potential hangover effects of alcoholic beverages.

Hangovers

The unpleasant physiological and psychological effects following the heavy consumption of alcohol, including headache, dehydration, and nausea.

Water-soluble

A characteristic of a substance that allows it to dissolve in water.