One major difference between tax-exempt benefits and tax-deferred benefits is: A. Tax-deferred benefits are not subject to
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Question:
One major difference between tax-exempt benefits and tax-deferred benefits is:
A. Tax-deferred benefits are not subject to FICA taxes, while tax-exempt benefits are.
B. Tax-deferred benefits are subject to FICA taxes, while tax-exempt benefits are not.
C. There is no difference between tax-exempt benefits and tax-deferred benefits as far as withholding amounts is concerned.
D. There is no limit to amounts that can be contributed to tax-exempt accounts, while there are limits to amounts that can be contributed to tax-deferred accounts.
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