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Salem Corporation is considering implementing a 401k program for its employees. The program plan will include the company matching at 50% of the employee's contribution up to 6% contribution. The Human Resources manager proposing this plan feels it will reduce turnover, improve morale, and provide a competitive edge when recruiting new employees. The HR manager has estimated Salem's annual contribution to be $300,000 and the savings to be $70,000 in employee turnover costs and improved performance. Management is concerned about this additional cost. In addition, you should discuss the 401k limits and special treatment for highly compensated employees. Prepare a response (750-1,000) words documenting how, as a tax analyst, you see this program, and note any tax implications related to the program.
Intelligent behavior is a function of how well people draw on their cognitively process and prior experiences information in order to adapt to their particular environmental situation.
Evaluate the project's NPV? Note that a project's expected NPV will be negative, in which case it will be rejected.
Advise Alex on his tax implication on the income that he received. Discuss if Tony has any tax implication and as a result Alex was made redundant and was offered a redundancy payment of $40,000. Alex has worked in that company for 5 years.
Federal income tax withheld is $5,200 (Lance) and $3,100 (Wanda). The proper amount of Social Security and Medicare tax was withheld. Determine the Federal income tax for 2012 for the Deans on a joint return by completing the appropriate forms.
Edwina worked at three jobs during 2011. She earned 30,000, 40,000 and 9,000 respectively form the jobs and had 10,000 from self-employment income. What amount can Edwina apply as credit against her 2011 income tax liability for overpayment of F..
Identify the issues raised and the relevant legislation in the context of ITAA97 and identify any cases and other sources of information relevant to the issues and legislation.
During 2013, Lockhart sold all of the inventory it owned at the beginning of the year for $250,000. What is its built-in gains tax in 2013? Be sure to show your work.
The price of computer chips decreases significantly, enabling manufacturers of hard drives to produce more hard drives. How will this affect the market for hard drives?
Partnership why would you want to state all partnership assets in terms of current prices at the admission of a new partner?
Advise the shareholders how the payments in Note (xiv) will be treated for tax purposes and the write-down of share investments is consistent with the accounting policy of valuing investments at market value.
Create a memo to Texaco Inc's chief accountant showing the appropriate income tax allocation required for the above items, adding the appropriate balance sheet presentation
If Daniel's marginal tax rate is 35 % and he has $120,000 of other capital gains (taxed at 15 percent), evaluate the tax savings from the special tax treatment
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