User Account

All Pages

What is the recommended amount that Amber should elect

Assignment Help Accounting Basics
Reference no: EM132543279

Question - Amber's employer, Lavender, Inc., has a § 401(k) plan that permits salary deferral elections by its employees. Amber's salary is $99,000, and her marginal tax rate is 24% and she is 42 years old.

a. What is the maximum amount Amber can elect for salary deferral treatment for2019?

b. If Amber elects salary deferral treatment for the above amount, how much can she save in taxes? Her tax liability for 2019 would be reduced by $.

c. What is the recommended amount that Amber should elect as salary deferral treatment for 2019?

Reference no: EM132543279

Questions Cloud

Find cost of goods sold assuming fifo would be : Marvin sold 1,930 units of inventory during the month. Cost of goods sold assuming FIFO would be.Iventory records for Marvin Company revealed
What is the journal entry to record the sale of the bonds : Allante Corporate issued 50 bonds with a face value of $1,000 and a stated rate of 4% and received $45,000. What is the journal entry to record the sale
Determine the cost of debentures : Determine the cost of debentures if they were issued.Indebted Ltd issued 10,000, 10% Debentures of Rs. 100 each, redeemable in 10 years time at 10% premium.
Enter the transactions in sale book of ms banarsi electronic : Enter the transactions in sales book of M/s.Banarsi electronics. September 01: Sold to Ajay Traders as per bill no.4321.20 Radio @ Rs. 70 per Radio
What is the recommended amount that Amber should elect : Amber's salary is $99,000, and her marginal tax rate is 24%. What is the recommended amount that Amber should elect as salary deferral treatment for 2019
Prepare ledger accounts from the transactions : Prepare ledger accounts from the transactions.Jan 1: Bought goods on credit from Himani Rs. 40,000. Jan 6: Purchased goods from cash Rs. 20,000
Prepare the first three years of an amortization schedule : The bonds pay interest semi-annually. Prepare the first three years of an amortization schedule. Assume that the bonds were issued for $565,710
Provide journal entries to account for all the transaction : Provide journal entries to account for all the above transactions in Tina Ltd's financial statements for the year ended 31 December 2019
How much depreciation will they record in year one : Assuming they use time as their allocation basis and use double-declining balance depreciation, how much depreciation will they record in Year 1

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd