Which statement describes the effect of taxes on a traditional 401(k) retirement account?
A.
A traditional 401(k) is tax exempt because the income earned isn't taxed until the money is withdrawn.
B.
A traditional 401(k) is a taxable account because the income earned is taxed when it is contributed.
C.
A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.
D.
A traditional 401(k) is tax exempt because the income earned is never taxed.

Answer:

A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.

Explanation:

A 401 k is a qualified tax-advantaged saving retirement plan. Usually, 401K  plans are employer-sponsored. Employee contributions to the 401 k plans are deducted from the payroll before taxes are calculated. It means the employee contribution is not taxed at the time it's withheld by the employer.

The amounts saved are invested in market securities such as shares and bonds. The tax due from earning from the investment is deferred to the time of withdrawal. The employee is not required to pay taxes on contributions and investments earning every financial year.

Should I start my final exam? im kinda scared ill get a bad grade lol. anyways, I hope everyone is doing great. ​

help
You read a script about a poor young woman living in London in the 1980s who becomes a famous dancer. Which of the following authors would be most likely to have written this script?

An 80-year-old man who was an engineer in Chicago.
A 50-year-old woman who grew up in a poor part of London.
A 19-year-old man who writes music reviews for an online magazine.
A 25-year-old woman who works as a server in Las Vegas.

A person is a professional truck driver and a car salesperson. Which action
would she most likely take if she wanted to increase her level of economic
specialization?
A. Move to another country that has fewer truck drivers
B. Hire an employee who can both drive trucks and sell cars
ce
C. Stop driving trucks to focus on becoming better at selling cars
D. Continue driving trucks and selling cars, while also learning to
repair engines

which of the following can have their shares trade on the stock exchange​

What are there conditions required for
germination of seed?


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A restaurant that serves $1400 a day in meals to 140 customers with an average cost of goods sold per unit at $7.00.
What is the average unit of sale for this business?

On a new job, a good way to fit in on the team is to _____.

tell everyone what to do
show respect and listen to every person's point of view
eat by yourself so you won't bother other people
hand out flyers to everyone about a cause you care about