(Solved): en is a self-employed architect in a small firm with four employees: himself, his office assistant, ...

en is a self-employed architect in a small firm with four employees: himself, his office assistant, and two drafters, all of rorked for Ken full time for the last four years. The office assistant earns

per year, and each drafter earns

arnings from self-employment (after deducting all expenses and one-half of self-employment taxes) are

. Ke thether to establish a SEP plan and has a few questions. Assume that all the employees are at least 21 years old. lequired: 3. Is he eligible to establish a SEP plan?

Answer is complete and correct.

b. Is he required to cover his employees under the plan?

Answer is complete and correct.