ANDY NEED 14,000 FOR HIS SENIOR YEAR COLLEGE TUITION BILL. HE IS INTHE 30% TAX BRACKET....
ANDY NEED 14,000 FOR HIS SENIOR YEAR COLLEGE TUITION BILL. HE IS INTHE 30% TAX BRACKET. HOW MUCH SHOULD WITHDRAW FROM HIS IRA TO PAY TAXES AND STILL HAVE 14,000 FOR THE TUITION BILL
4200
14000
18000
21000
Homework Answers
Ans: the correct option for the answer is option D i.e. 21000.
Since he is in 30% tax bracket. and if he withdrew $21,000 from ira if he wants to pay taxes and tuition bill and 30 % will be 6300
=21000-6300
=14700
And he can pay 14000 for his tuition bill
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ANDY NEED 14,000 FOR HIS SENIOR YEAR COLLEGE TUITION BILL. HE IS
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