Question

Question 2 of 10
Which of the following is a benefit of contributing to a retirement account?
A. The amount of income that's taxable is reduced.
B. Contributions double each timbs they are deposited.
C. As long as you contribute, you don't have to pay any taxes.
D. Money deposited can be taken out at any time.
SUBMIT

Answer 1

It should be noted that a benefit of contributing to a retirement account is A. The amount of income that's taxable is reduced.

What is the benefit of retirement account?

It should be noted that employee contribution can help in reducing taxable income.

Contributions and investment gains won't be taxed until they're distributed.

Therefore, the benefit of contributing to a retirement account is the amount of income that's taxable is reduced.

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