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1. All of the following are true about SEP-IRAs and SIMPLE IRAa except: SEP IRAs allow higher annual contributions than SIMPLE IRAs They allow pre-tax
1.
All of the following are true about SEP-IRAs and SIMPLE IRAa except:
SEP IRAs allow higher annual contributions than SIMPLE IRAs | ||
They allow pre-tax contributions from the employee and employer | ||
Only businesses with 100 employees or less are eligible for SIMPLE IRAs | ||
They require immediate vesting on all contributions |
2.
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All of the following are true about Coverdell ESAs except:
The maximum annual contribution is $2,000 per child per year
Withdrawals are tax free only for college expenses
There are income restrictions
There are age restrictions
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