Which of the following statements about a tax deferred annuity plan is (are) true?

Pat is considering converting a traditional IRA to a Roth IRA in 2017. Pat might not want to make a conversion because

Salary reduction elections must be made by employees during a _____ period prior to January 1 of the year for which the elections are made.

The IRS has developed two tests for life insurance in a qualified plan designed to determine whether the incidental benefit percentage is being met. What is the maximum allowable percentage of the total cost of the plan allowed for incidental benefits?

For a self-employed person using the car for business purposes, interest on a car loan is tax deductible to the extent that the vehicle was used in company business.

Walter Graves, owner of Graves Excavating wants to deposit employer stock in a qualified individual account plan. The stock is not publicly traded. Which of the following is (are) true for Walter?

The IRS generally allows money purchase plans to provide for “in-service distributions”-that is, benefits payable before termination of employment.

The IRS generally allows money purchase plans to provide for “in-service distributions”-that is, benefits payable before termination of employment.

The “small welfare plan exemption” that exempts an employer from filing an annual report applies to welfare plans

Tandy is a self-employed owner of Candle Creations. She has a Keogh plan that provides incidental insurance through a cash value life insurance contract. This year, her premium is $1,400, of which $800 is for pure life insurance protection and the rest is used to increase the cash value. Tandy