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What are the normal funding deadlines for IRA contributions?
$5,000
Pre-tax basis
Public school, college, university or charity
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
there is no limit
Individual Retirement Account
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
Is there a penalty for excess contributions? If so, what is it?
$5,000
Pre-tax basis
Public school, college, university or charity
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
there is no limit
Individual Retirement Account
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
What is IRA stand for?
$5,000
Pre-tax basis
Public school, college, university or charity
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
there is no limit
Individual Retirement Account
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
In a 401(k) plan are the employees deductions taken out on a pre-tax or post-tax basis?
$5,000
Pre-tax basis
Public school, college, university or charity
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
there is no limit
Individual Retirement Account
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
Why did Congress pass the Revenue Act of 1978 that created SEP plans?
$5,000
Pre-tax basis
Public school, college, university or charity
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
there is no limit
Individual Retirement Account
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
Who can establish a 403b?
$5,000
Pre-tax basis
Public school, college, university or charity
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
there is no limit
Individual Retirement Account
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
What is the normal contribution limit in 2009 for a Traditional IRA?
$5,000
Pre-tax basis
Public school, college, university or charity
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
there is no limit
Individual Retirement Account
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
What is the normal contribution limit in 2009 for a Non-Qualified Annuity?
$5,000
Pre-tax basis
Public school, college, university or charity
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
there is no limit
Individual Retirement Account
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
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