Which of the following is not true of Simplified Employee Plans?(Select the best answer below.)...
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Finance
Which of the following is not true of Simplified Employee Plans?(Select the best answer below.)
A.
They enable self-employed individuals to contribute part of their income to a retirement account.
B.
The contributions are not taxed until it is withdrawn from the retirement account at the time of retirement.
C.
They are government-sponsored retirement plans.
D.
They allow for a maximum annual amount of 25% of net income up to a maximum of $50,000.
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