QUESTION 1
Under what conditions would the cash method of accounting be advantageous as compared with the accrual basis?
QUESTION 2
In December, 2014 Nell Inc., an accrual basis taxpayer, paid $12,000 for insurance premium for the 2015 calendar year. How much of the premium can be deducted in 2014?
QUESTION 3
What are two major types of qualified pension
QUESTION 4
What are the policy reasons for the advantages of qualified retirement plans?
QUESTION 5
Joey, who is single, is not covered by another qualified plan and earns $116,000 at his job in 2014. How much can he contribute to a traditional IRA or to a Roth IRA in 2014?