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What is the normal contribution limit in 2009 for a Non-Qualified Annuity?
Pre-tax basis
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
$5,000
$5,000
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
there is no limit
When the client turns 70 1/2
What is the normal contribution limit in 2009 for a Traditional IRA?
Pre-tax basis
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
$5,000
$5,000
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
there is no limit
When the client turns 70 1/2
What are the normal funding deadlines for IRA contributions?
Pre-tax basis
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
$5,000
$5,000
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
there is no limit
When the client turns 70 1/2
In a 401(k) plan are the employees deductions taken out on a pre-tax or post-tax basis?
Pre-tax basis
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
$5,000
$5,000
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
there is no limit
When the client turns 70 1/2
Is there a penalty for excess contributions? If so, what is it?
Pre-tax basis
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
$5,000
$5,000
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
there is no limit
When the client turns 70 1/2
With a traditional IRA when are Required Minimum Distribution required to begin?
Pre-tax basis
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
$5,000
$5,000
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
there is no limit
When the client turns 70 1/2
What is the normal contribution limit in 2009 for a ROTH IRA?
Pre-tax basis
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
$5,000
$5,000
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
there is no limit
When the client turns 70 1/2
Why did Congress pass the Revenue Act of 1978 that created SEP plans?
Pre-tax basis
yes, 6% of the excess and the gains associated with it, unless the excess is removed before the tax filing deadline
$5,000
$5,000
April 15th
sm businesses needed an alternative. They didn't offer plans to EE because they were too complex.
there is no limit
When the client turns 70 1/2
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