In general, which of the following statements regarding self-employed retirement accounts is true?
A. In general, SEP IRAs have higher contribution limits than individual 401(k)s no matter the age of the contributing taxpayer.
B. In general, SEP IRAs have higher contribution limits than individual 401(k)s if the contributing taxpayer is at least 50 years of age at year-end.
C. In general, individual 401(k)s have higher contribution limits than SEP IRAs.
D. None of the choices are true. In general, both SEP IRAs and individual 401(k)s have exactly the same annual contribution limits.
Answer: C
You might also like to view...
When using the AIDA approach to persuasion, the closing should
A) urge the audience to take the action you are requesting. B) provide additional evidence and detail not covered in the desire section. C) explain the steps needed to implement your ideas. D) help the audience imagine how the solution might benefit them. E) get the audience's attention.
According to the just-in-time philosophy,
A) finished goods should always be available in case a customer wants something. B) employees should be expert at one function rather than be cross-trained for multiple functions. C) movement of the product and material is reduced. D) the product moves from process to process until completion.
A solution that satisfies all the constraints of a linear programming problem except the nonnegativity constraints is called
a. optimal. b. feasible. c. infeasible. d. semi-feasible.
A relation is essentially a three-dimensional table
a. True b. False Indicate whether the statement is true or false