Multiple Choice
Frank is a self-employed CPA whose 2015 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 2015?
A) $66,250
B) $48,000
C) $53,000
D) $60,000
Correct Answer:
Verified
Correct Answer:
Verified
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