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Schach [20]
1 year ago
15

Two attorneys operate their practice as a partnership. They want to start a program through their practice that will provide ret

irement benefits for themselves and three employees. They would likely choose
A - Section 457 Deferred Compensation Plan.
B - 403(b) plan.
C - 401(k) plan.
D - HR-10 (Keogh Plan).
SAT
1 answer:
Softa [21]1 year ago
7 0

They want to start a program through their practice that will provide retirement benefits for themselves & three other employees. They would likely choose <u>HR-10 (Keogh Plan)</u><u>,</u> the correct option is D.

<h3>What is Keogh Plan?</h3>

For retirement, self-employed people and unincorporated businesses can use a Keogh plan, which is a tax-deferred pension plan. Defining a Keogh plan as either a defined-benefit or defined-contribution arrangement is possible, though the latter is how most plans are set up.

Contributions are typically tax deductible up to a predetermined percentage of annual income, with applicable absolute limits in U.S. dollars, which the Internal Revenue Service (IRS) can alter annually.

Self-employed individuals and unincorporated businesses, such as sole proprietorships and partnerships, can participate in Keogh plans as retirement plans. The creation and use of a Keogh plan for retirement is not permitted for independent contractors.

Learn more about Keogh plan

brainly.com/question/14560326

#SPJ4

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Answer:

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<h3>Thermodynamics Systems</h3>

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