Which is false about a Roth IRA?

Retirement Quiz

Quiz
•
Business
•
12th Grade
•
Medium
Madison Tweedy
Used 7+ times
FREE Resource
27 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
contributions are taxed
withdraws are not taxed
you can contribute up to $131,000 (single) or $193,000 (couples)
contributions are tax deductible
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is included in FICA tax
Medicare
Sales Tax
Federal Tax
Social Security
3.
DROPDOWN QUESTION
1 min • 1 pt
Paying FICA taxes is (a)
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
the person entitled to receive the benefit of a deceased persons benefits
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which is false about profit sharing plans?
the government does not insist the contributions be "recurring and substantial"
these are used an employee incentives
the employer and employee can both contribute to the plan
6.
DROPDOWN QUESTION
1 min • 1 pt
A Traditional IRA is taxed at (a)
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: All your income is taxed at your highest tax rate.
True
False
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