Which of the Following Is a True Statement Regarding SIMPLE

question 35

Multiple Choice

Which of the following is a true statement regarding SIMPLE IRAs?

• A)SIMPLE IRAS require employees to make contributions each month.
• B)Employer contributions to SIMPLE IRAS are not tax deductible.
• C)Employers usually handle the IRS paperwork for SIMPLE IRAs.
• D)SIMPLE IRAs have low administrative costs.

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Definitions:

Real Estate Brokers

Professionals licensed to arrange real estate transactions, negotiating deals between buyers and sellers, often representing one of the parties.

Income Statement

A financial statement that reports a company's revenues, expenses, and profits over a specific period of time.

Operating Costs

Expenses associated with the routine functioning of a business or system.

Long-Term Gains

Profits or advantages achieved over an extended period, contrasting with immediate or short-term benefits.