Register
Chad and Sue have successfully owned and operated their bakery for 10 years and have decided to plan for their retirement. They are not incorporated and have no full-time employees, and want a qualified
234k views
3 votes
Chad and Sue have successfully owned and operated their bakery for 10 years and have decided to plan for their retirement. They are not incorporated and have no full-time employees, and want a qualified plan to maximize the tax advantages while at the same time not bog them down with paperwork. Which of the following plans would be their best option.

User Danielreiser
by
5.0k points

1 Answer

4 votes

Answer:

c. Simplified Employee Pension (SEP)

Step-by-step explanation:

A simplified employee pension (SEP) is known as a retirement package that a company establish for the employees in the company. Furthermore, the company allows a monthly contribution in form of a tax deduction from the employees' monthly salaries. Therefore, based on the description provided in the problem, the correct answer is a Simplified Employee Pension (SEP).

User Chicken
by
4.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.2m questions

6.7m answers

Other Questions

Misk Co. purchased the following securities during 20X7 to be classified as held-to-maturity securities, trading securities, or available-for-sale securities: I. Debt securities bought and held for the
Which of the following should be considered last when searching for financing? Family members Banks Commercial finance companies Credit cards I'm guessing it's C but idk
Explain the similarities and differences between how both producers and consumer use money
Donna's philosophy as she coordinates the marketing efforts is to keep in mind the company's overarching strategy, and to ensure that all marketing activities send a consistent message, beginning with
Brett buys a new cell phone for​ $100. he receives consumer surplus of​ $80 from the purchase. how much does brett value his cell​ phone?
Link Copied!