Which of the Following Statements Regarding Self-Employed Retirement Accounts Is

question 2

Multiple Choice

Which of the following statements regarding self-employed retirement accounts is True?

• A) A self-employed taxpayer who has hired employees may not set up a SEP IRA.
• B) A self-employed taxpayer who has hired employees may set up either a SEP IRA or an individual 401(k).
• C) A self-employed taxpayer who has hired employees may not set up an individual 401(k).
• D) All of the choices are False.

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Definitions:

Pleasure

A feeling of happiness, enjoyment, or satisfaction derived from an experience or activity.

Logical

Pertaining to the use of reason and clear thinking, often involving the systematic process of inference or deduction.

Stealing

The act of taking someone else's property without permission or legal right and with no intention to return it.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing behaviors, thoughts, and emotions.