A participant, who is age 38, in a cash or deferred arrangement plan (5 401(k)] may contribute up to what amount in 2018? a. $18,500 b. $17,500 c. $17,000 d. $12,000 e. None of these choices are correct Which of the following, if any, incorrectly characterize the check-the-box Regulations? a. A one-owner business can elect to be taxed as a corporation. b. A one-owner business is a sole proprietorship if default (no election is made) occurs. c. The check-the-box Regulations can apply to entities that are already incorporated under state law d. If default (no election is made) occurs, a limited liability company is taxed as a partnership. e. None of these choices are correct