1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
BaLLatris [955]
2 years ago
11

A 401(k) plan and the nonprofit equivalent, called a 403(b) plan, are______ reduction plans that reduce your salary by the amoun

t of your contributions and result in a lower current tax liability. quizlet
Business
1 answer:
castortr0y [4]2 years ago
3 0

A 401(k) plan and the nonprofit equivalent, called a 403(b) plan, are salary reduction plans that reduce your salary by the number of your contributions and result in a lower current tax liability. This is further explained below.

<h3>What is tax liability?</h3>

Generally, Both a 401(k) plan and its counterpart for nonprofit organizations, known as a 403(b) plan, are types of salary reduction plans. These programs cut your pay by an amount equal to the number of contributions you make and result in a reduced tax burden for the current year.

In conclusion, Your financial obligation to the government in the form of taxes is referred to as your tax liability. It is the entire amount of money that you are required to pay to the government as part of your obligation to pay income tax on profits such as salary, business, interest on income from investments, capital gains, and prizes from lottery tickets.

Read more about tax liability.

brainly.com/question/15394738

#SPJ1

You might be interested in
The planning cycle is viewed as a linear process with a sequence of steps; however, it can also be considered cyclical so that a
Lisa [10]
A linear process with a sequence
5 0
1 year ago
If the Japanese production function is Cobb–Douglas with capital share 0.3, output growth is 3 percent per year, depreciation is
miss Akunina [59]

Answer: The saving rate is 0.30

Explanation:

The Golden Rule savings rate is referred to as the rate of savings which maximizes steady state level or growth of consumption.

Let k be the capital/labour ratio (i.e., capital per capita), y be the resulting per capita output ( y = f(k) ), and s be the savings rate. The steady state is referred to as a situation in which per capita output is unchanging, which implies that k be constant. This requires that the amount of saved output be exactly what is needed to one quip any additional workers and two replace any worn out capital.

In a steady state, therefore: sf(k)=(n+d)k

Growth rate of output =3%

Depreciation rate= 4%

Capital output ratio is (K/Y)

= 2.5

Begin the steady state condition:

S= ( σ + n + g) (k/Y)

S= (0.03+0.04) (2.5)

S= 0.175

Golden rule steady state

MPK= (0.03+0.04)= 0.07

Capital output ratio=

K/Y= Capital share / MPK

K/Y= 0.3/0.07

K/Y= 4.29

In the golden state, the capital output ratio is equal to 4.29 in comparison to the current capital ratio 2.5.

The saving rate consistent with the steady growth rate

S= ( σ + n + g) (k/Y)

S= (0.03 +0.04) (4.29)

S= 0.30

The saving rate that is consistent with the steady growth rate is 0.30

6 0
3 years ago
Even though Carol shows sociability aggression apathy , she lacks responsibility self-esteem honesty
Blizzard [7]
Sounds like she needs a meeting with her supervisor and hr director. Any privilege of being paid comes with responsibility to the job role and team members, where she'll be held accountable for her deliverables by her boss.
8 0
3 years ago
HELP ME PLSSS SOMEONE HELPP ILL GIVE BRAINLIEST
SIZIF [17.4K]

Answer:

$7,875

Explanation:

Total car sales in January: $112,500

Commission at the  rate of 7%,

Salary for January is :

7 percent of $112,500

=7/100 x $112,500

=0.07 x $112,500

=$7,875

3 0
3 years ago
Lawn Innovation is a company that designs and manufactures lawn equipment. The company wants to create a new multipurpose tool t
Fofino [41]

Answer:

The correct answer is letter "B": marketing research.

Explanation:

Marketing research is the study companies make before launching a product or service by which they gauge how successful could be the product in the market. The marketing research is the indicator that will determine if the goods will be produced or not. This study is also helpful at the moment of determining the target market of the firm and its scope, as well as the approximate price that consumers would pay for the product.

7 0
3 years ago
Other questions:
  • In their op ed, the executives sought to provide information to the public and drivers about their positions regarding providing
    10·1 answer
  • Wie Corp's sales last year were $315,000, and its year-end total assets were $355,000. The average firm in the industry has a to
    7·1 answer
  • What does it mean for a savings account to have a minimum balance? a. If you do not keep at least that much money in the account
    6·2 answers
  • On November 1, 2021, Green Valley Farm entered into a contract to buy a $150,000 harvester from JohnDeere. The contract required
    5·1 answer
  • According to Fair Employment Laws, it is illegal to discriminate on the basis of _____. a. age b. race c. sex d. all of the abov
    7·2 answers
  • A family with 45000 in asserts and 22000 of liabilities would have a net worth of?
    7·2 answers
  • Ready Ride is a trucking company. It provides local, short-haul, and long-haul services. It has developed the following three co
    11·1 answer
  • A firm has four different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the
    10·1 answer
  • Sales Tax - You go to the store and purchase a shirt for $21.18, how much will you pay
    11·1 answer
  • A service contract for a video projection system costs $80 a year. You expect to use the system for six years. Instead of buying
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!