Arturo Is a 15% Partner in the Franklin Group and Has

question 50

Multiple Choice

Arturo is a 15% partner in the Franklin Group and has net self-employment income of $250,000 in 2013.The maximum amount that Arturo can contribute to a Keogh money purchase plan is

• A)$40,000
• B)$46,000
• C)$49,000
• D)$50,000
• E)$62,500

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Definitions:

Anode

An electrode through which conventional current flows into a polarized electrical device; in electrolysis, it is the positively charged electrode.

Battery

A device used to convert chemical energy into electric energy. A group of voltaic cells connected together in a series or parallel connection.

Electromotive

Related to the generation or production of electromotive force or voltage.

Ionic Series

In chemistry, a series that ranks ions based on their ability to displace other ions in reactions, often related to their reactivity or electrode potentials.