Bob, age 35, carns $200,000 annually from ABC Incorporated. ABC sponsors a SIMPLE and matches all employee deferrals 100% up to a 3% contribution. What is the maximum employee deferral contribution to Bob's SIMPLE account for 2019?
Bob, age 35, carns $200,000 annually from ABC Incorporated. ABC sponsors a SIMPLE and matches all employee deferrals 100% up to a 3% contribution. What is the maximum employee deferral contribution to Bob's SIMPLE account for 2019?
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 29MCQ: During 2019, Carl (a single taxpayer) has a salary of $91,500 and interest income of $11,000....
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![Bob, age 35, earns $200,000 annually from ABC Incorporated. ABC sponsors a SIMPLE and matches all
employee deferrals 100% up to a 3% contribution. What is the maximum employee deferral contribution to
Bob's SIMPLE account for 2019?
$6,000
$16,000
$19,000
$22,000
$13,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd1c7f4ec-13f4-49f1-b80a-0f5c07ff703d%2F36ece807-a9d2-4f13-b92b-2ad94c907c5c%2Fs2pbjs_processed.png&w=3840&q=75)
Transcribed Image Text:Bob, age 35, earns $200,000 annually from ABC Incorporated. ABC sponsors a SIMPLE and matches all
employee deferrals 100% up to a 3% contribution. What is the maximum employee deferral contribution to
Bob's SIMPLE account for 2019?
$6,000
$16,000
$19,000
$22,000
$13,000
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