Distribution from an IRA can begin at age 59½ and must begin by age:
Answer(s): A
70½. This the age at which IRA withdrawals are required.
Which of the following are not flat rate taxes?
Answer(s): C
gift tax. By definition, gift tax is a progressive tax. All of the others are a level percentage.
For a self-employed individual’s retirement plan, ERISA permits an investment in which of the following?
Answer(s): D
all of the above. Each of these investments qualify for a retirement plan or an IRA.
An employer profit sharing plan may be described as:
all of the above. A profit sharing plan has tax deductible contributions and is designed to provide a retirement plan for participants. Income in the plan is tax-free until withdrawn.
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