Which of the following statements regarding self-employed retirement accounts is true?
A)A self-employed taxpayer who has hired employees may not set up a SEP IRA.
B)A self-employed taxpayer who has hired employees may set up either a SEP IRA or an individual 401(k) .
C)A self-employed taxpayer who has hired employees may not set up an individual 401(k) .
D)All of these statements are false.See discussion of nontax factors of self-employed retirement accounts in text.

Question

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The Answer of Which of the following statements regarding self-employed retirement accounts is true?
A)A self-employed taxpayer who has hired employees may not set up a SEP IRA.
B)A self-employed taxpayer who has hired employees may set up either a SEP IRA or an individual 401(k) .
C)A self-employed taxpayer who has hired employees may not set up an individual 401(k) .
D)All of these statements are false.See discussion of nontax factors of self-employed retirement accounts in text.

Which of the Following Statements Regarding Self-Employed Retirement Accounts Is