Business, 23.10.2019 20:30 Fm610899

Paul and mary smith own a small candy shop. both paul and mary have established traditional ira's, contribute to them annually to provide for their retirement and have designated each other as beneficiary to their accounts. paul and mary have two grown children. if either paul or mary should die, what would happen to their ira?
(a) the surviving spouse would receive the distribution as ordinary income in the year their spouse died.
(b) the surviving spouse would become the owner of the ira and have the title to the account changed to the surviving spouses name.
(c) the ira would become part of the deceased persons estate and assets would be distributed according to the will of the deceased person.
(d) the assets of the ira would be split equally and taken as ordinary income between the surviving spouse and the two children.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 12:00

Identify at least 3 body language messages that project a positive attitude

Answers: 2

Answer

Business, 22.06.2019 17:50

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.

Answers: 2

Answer

Business, 22.06.2019 19:10

The stock of grommet corporation, a u.s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u.s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u.s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u.s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?

Answers: 3

Answer

Business, 22.06.2019 20:20

Why is it easier for new entrants to get involved in radical innovations when compared to incumbent firms? a. unlike incumbent firms, new entrants do not have to face the high entry barriers, initially. b. new entrants are embedded in an innovation ecosystem, while incumbent firms are not. c. unlike incumbent firms, new entrants do not have formal organizational structures and processes. d. incumbent firms do not have the advantages of network effects that new entrants have.

Answers: 2

Answer

You know the right answer?

Paul and mary smith own a small candy shop. both paul and mary have established traditional ira's, c...

Questions