Susan Is a Self-Employed Accountant with a Qualified Defined Contribution

question 46

Multiple Choice

Susan is a self-employed accountant with a qualified defined contribution plan (a Keogh plan) .She has the following income items for the year: What is the maximum amount Susan can deduct as a contribution to her retirement plan in 2011,assuming the self-employment tax rate is 15.3%?

• A) $9,235.
• B) $12,000.
• C) $46,000.
• D) $46,468.
• E) None of the above.

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Definitions:

Cognitive Mechanisms

Mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.

Physically Attractive

A characteristic of an individual that is found to be visually appealing to others, often influenced by cultural standards and biological instincts.

Conservative Attire

Clothing that is modest, traditional, and conforms to professional and formal standards, often worn in corporate or formal settings.

Sociable

Having a predisposition to engage in social interactions, often characterized by a willingness to connect and communicate with others.