Questions from Individual Taxation

Q: Compare and contrast the annual limitations on deductible contributions for self-

Compare and contrast the annual limitations on deductible contributions for self-employed taxpayers to SEP IRAs, and individual 401(k) accounts.

Q: What are the nontax considerations for self-employed taxpayers deciding whether

What are the nontax considerations for self-employed taxpayers deciding whether to set up a SEP IRA or an individual 401(k)?

Q: What is the saver’s credit and who is eligible to receive it

What is the saver’s credit and who is eligible to receive it?

Q: What is the maximum saver’s credit available to taxpayers? What taxpayer

What is the maximum saver’s credit available to taxpayers? What taxpayer characteristics are relevant to the determination?

Q: How is the saver’s credit computed?

How is the saver’s credit computed?

Q: What are the nontax advantages and disadvantages of defined benefit plans relative

What are the nontax advantages and disadvantages of defined benefit plans relative to defined contribution plans?

Q: Javier recently graduated and started his career with DNL Inc. DNL

Javier recently graduated and started his career with DNL Inc. DNL provides a defined benefit plan to all employees. According to the terms of the plan, for each full year of service working for the e...

Q: Alicia has been working for JMM Corp. for 32 years.

Alicia has been working for JMM Corp. for 32 years. Alicia participates in JMM’s defined benefit plan. Under the plan, for every year of service for JMM she is to receive 2 percent of the average sala...

Q: Kim has worked for one employer her entire career. While she

Kim has worked for one employer her entire career. While she was working, she participated in the employer’s defined contribution plan [traditional 401(k)]. At the end of 2016, Kim retires and the bal...

Q: Matthew (48 at year-end) develops cutting-edge

Matthew (48 at year-end) develops cutting-edge technology for SV, Inc. located in Silicon Valley. In 2016, Matthew participates in SV’s money purchase pension plan (a defined contribution plan) and in...