acques, who is 52 years old, works for West Texas A&M and is a participant in WTAMU’s 403(b) program. How much could he defer in the program in 2023 if he has a salary of $121,000? A. $7,500. B. $30,000. C. $22,500. D. $66,000
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Jacques, who is 52 years old, works for West Texas A&M and is a participant in WTAMU’s 403(b) program. How much could he defer in the program in 2023 if he has a salary of $121,000?
| A. |
$7,500. |
|
| B. |
$30,000. |
|
| C. |
$22,500. |
|
| D. |
$66,000 |
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- During 2019, Carl (a single taxpayer) has a salary of $91,500 and interest income of $11,000. Calculate the maximum contribution Carl is allowed for an educational savings account. $0 $400 $1,000 $2,000 Some other amountJacob has the following items of income in 2021: He has a salary of $100,000 He sells land for $12,000. The original purchase price is $4,000 He receives interest from a City of London Bond of $7,000 What is Jacob’s Gross Income? Group of answer choices $100,000. $107,000. $112,000. $115,000.Carrie, age 55, is an employee of Rocket, Inc. (Rocket). Rocket sponsors a SEP IRA and would like to contribute the maximum amount to Carrie’s account for the plan year. If Carrie earns $14,000 per year from Rocket, what is the maximum contribution Rocket can make on her behalf to the SEP IRA? a. $3,500. b. $14,000. c. $19,500. d. $57,000.
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