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-Which statement is correct regarding SIMPLE retirement plans? A. This plan can only be adopted...

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Accounting

-Which statement is correct regarding SIMPLE retirement plans?

A. This plan can only be adopted by employers with 50 or fewer employees.

B) SIMPLE plans are not subject to nondiscrimination rules.

C) Only the employer can contribute to the plan.

D) Employer contributions must vest within three years.

-Lydia is a self-employed Attorney whose 2018 net earnings from her trade or business (before the H.R. 10 plan contribution but after the deduction for one-half of self-employment taxes) is $225,000. What is the maximum contribution that Lydia can make on her behalf to her H.R. 10 (Keogh) plan in 2018?

A) $18,500

B) $45,000

C) $55,000

D) $60,000

-A partnership plans to set up a retirement plan to benefit the partners and the employees. All of the following retirement plans are appropriate except

A) an H.R. 10 (Keogh) plan.

B) a SEP IRA.

C) a SIMPLE plan.

D) a Solo 401(k).

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