Examlex
Bruce owns several sole proprietorships. Must Bruce use the same accounting method for each of these businesses?
Conventional IRA
Likely meant to be "Traditional IRA," which is an individual retirement account that offers tax-deferred growth and potential tax-deductible contributions.
Excise Tax
A tax on the sale or use of specific products or transactions, often included in the price of goods such as gasoline, alcohol, and tobacco.
Roth IRA
A retirement savings account allowing for tax-free growth and tax-free withdrawals in retirement.
Annuity Payment
An annuity payment is a periodic payment received from an annuity contract, typically used as an income stream during retirement.
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