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From the list given below, identify the characteristics of a Traditionad IRA. Please highlight all that apply. A Traditional IRA - Only allows you to

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From the list given below, identify the characteristics of a Traditionad IRA. Please highlight all that apply. A Traditional IRA - Only allows you to make after-tax contributions May allow you to make pre-tax contributions Contributions that grow are never tax deferred Contributions that grow are tax deferred Contributions grow tax-free If your age is under 50 the contributions are limited to $4000 Contributions are limited to $8500 Contributions are limited to $6,000, if you are under 50 . Beginning in 2020 there will be an age limit for contributins to a Traditional IRA You are not required to make withdrawals from a Traditional IRA The age requirement for Traditional IRA withdrawals, beginning in 2019 is 72. From the list given below, please identify the characteristics of a ROTH IRA. please highlight all that apply. A ROTH IRA - Allows you to make after-tax contributions May allow you to make pre-tax contributions Contributions that grow are never tax deferred Contributions that grow are tax deferred Contributions grow tax-free If your age is under 50 the contributions are limited to $4000 Contributions are limited to $8500 Contributions are limited to $6,000, if you are under 50 . Beginning in 2020 there will be an age limit for contributins to a ROTH IRA You are not required to make withdrawals from a ROTH IRA For the data below, calculate the amount of taxes due (Federal 10%,5 tate 5%, Social Security and Medicare Taxes, for the 401K Contributions. Please enter your answers in the highlight boxces below. For the data below, determine the maximum amount of 401K contribution for that year. No catch-up included. The employee would be 45. Please enter your answers in the highlighted boxes below

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