Question

Steve is a single man whose salary is $92,000 per year. Based on the tax table

Answer 1

The amount that he needs to contribute to his employer's 401(k) in order to fall in a tax bracket will be $9750.

How to calculate the tax?

From the information given, Steve is a single man whose salary is $92,000 per year. Based on the tax table below, the amount that he needs to contribute to his employer's 401(k) in order to

fall in a tax bracket will be:

= $92000 - $82250

= $9750

Therefore, the amount is $9750

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