In middle adulthood you may have all of the following tax advantages EXCEPT
a. 401k or IRA tax deferral.
b.HSA contribution deduction.
c.retirement savings exemption.
d.age exemption.
In middle adulthood you may have all of the following tax advantages EXCEPT
d. age exemption
Explanation:
Age exemption can be availed only by taxpayers who are 60 years old or above. In middle adulthood, a taxpayer would not be allowed to avail the age exemption because the taxpayer would be of age less than 60 years.
In middle adulthood you may have all of the following tax advantages EXCEPT a. 401k or...
Roth IRA tax advantages include which of the following. a. Exemption from required minimum distribution rules,as long as the original account owner is still alive, b. Federal estate tax exemption for Roth IRA balances, c. Federal income tax deduction for Roth IRA contributions, d. Exemption from required minimum distribution rules for all beneficiaries of inherited Roth accounts.
you have learned about the developmental stages of Late Adolescence, Emerging Adulthood, and Middle Adulthood. Particular attention has been given to new categorizations of emerging adulthood. Now it is time to apply what you have learned. Discussion Prompt For this discussion, please respond to the following prompt: This discussion forum will focus on a short synopsis of one of the articles you read that informed your developing knowledge in this area of human development. Choose an article to present that...
Research 401K retirement savings plan. Then, consider the following scenario. John Smith's Scenario John is single living in Brooklyn, and he works at the XYZ company as a webpage designer. His annual salary is $75,000 a year. His company offers a 401K retirement savings benefit and it matches up to 6% of the participating employee's salary. John wants to participate in the program because it gives many benefits including that additional 6% money toward his retirement savings. He wants to...
Research 401K retirement savings plan. Then, consider the following scenario. John Smith's Scenario John is single and he works at the XYZ company as a webpage designer. His annual salary is $75,000 a year. His company offers a 401K retirement savings benefit and it matches up to 6% of the participating employee's salary. John wants to participate in the program because it gives many benefits including that additional 6% money toward his retirement savings. He wants to figure out what...
QUESTION 3 1 All of the following are advantages of issuing bonds rather than stock except O financial leverage. payment of bond interest is not required bond interest is tax-deductible. bondholders do not have voting rights.
Question 3 10 pts With regard to a residence, all of the following are advantages of owning except for: homeowners may have a better credit rating no large down payment a house is a form of forced savings, as mortgage payments contribute to equity homeowner has freedom to make improvements and changes to the house land appreciation typically adds to the value of the home
Which of the following may not be claimed as a deduction by a taxpayer who claims the standard deduction? Select one: O a. IRA contribution O b. Home office expense deduction O C. State income tax paid O d. Student loan interest expense
Susie is single and has determined the following tax information for the year: regular gross salary - $30,000; customer tips - $1,500 ($1,000 received in her regular paychecks and $500 received in cash directly from customers); cash gift from her Papa - $2,000; interest earned - $20; Federal income tax refund - $600; Traditional IRA contribution - $1,000; personal exemption - $3,950; itemized deductions - $4,900; and standard deduction - $6,200. Using the above facts, what is Susie’s federal taxable...
All of the following are advantages of bond financing are true except: Provided the company with faster capital than saving profits. Bonds can increase return on equity. Bonds do not affect ownership control of entity. Bond interest in tax deductible. Bonds requirement for use of cash does not change with the entity's cash supply.
All of the following are advantages of gainsharing pay plans except: Question 3 options: A) they foster of teamwork and cooperation. B) they promote the development of learning organizations. C) they lead to productivity and quality improvements. D) they have clear performance-reward links. E) they are administratively straightforward.