Essay
Drew is a partner with Peyton LLP. Peyton maintains a money purchase Keogh plan for its partners and employees. Drew owns a 30% partnership interest in Peyton. Determine the maximum deductible contribution Drew can make to the plan in each of the following situations:
a.Drew 's net self-employment income is $85,000.
b.Drew's net self-employment income is $290,000.?
Correct Answer:
Verified
Correct Answer:
Verified
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