Maria (30) is a sole proprietor with no employees. She has a SEP with a 25% contribution rate and her Schedule C net profit is $50,000. Her self-employment tax is $7,065. What is the maximum she can contribute to her SEP IRA?
$9,294
$10,000
$11,617
$12,500
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I know the answer but I don't know how to answer your question
Explanation:
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