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11 Cards in this Set
- Front
- Back
SEP IRA |
Simplified Employee Pension
|
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SIMPLE IRA |
Savings Incentive Match Plan for Employees |
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Qualified plan |
Subject to code 401(a) - tax deffered |
|
tax-sheltered annuity |
403(b) |
|
Tax-advantaged plans available for private employers |
SEP, SIMPLE, and 403(b) |
|
Nonqualified plan employer's tax deduction is deducted: |
Deducted at the time employees have taxable income |
|
Tax-advantaged plan employer's tax deduction is deducted: |
Deducted at the time contributions are made to the plan |
|
Nonqualified plan |
deferred-compensation plans |
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Superannuated employees |
Long-time employees who are not economically productive. (usually they stop producing and are just collecting a paycheck) |
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accumulated earnings tax |
15% penalty tax for C corps that attempt to reduce the shareholder's tax burden by accumulating earnings instead of paying them The federal government produced this tax to deter investors from negatively influencing a company's decision to pay dividends. Essentially, this tax persuades companies to issue dividends, rather than retaining the earnings. |
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ESOP |
Employee Stock Ownership Plan |