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MAVERICK [17]
1 year ago
6

Assume that Tommy and Michelle have an AGI of $107,000 before IRA deductions by either spouse. The AGI includes $10,000 that Mic

helle earned working part time (but she does not participate in an employer-sponsored retirement plan). Tommy and Michelle file a joint return. What is the maximum deductible contribution Tommy and Michelle may make to a traditional IRA?
Business
1 answer:
SIZIF [17.4K]1 year ago
8 0

Based on the AGI that Tommy and Michelle have, and the fact that they make a joint return, the maximum deductible contribution to a traditional IRA is $11,100.

<h3>How much is their joint maximum deductible contribution?</h3>

Michelle does not participate in an employer-sponsored retirement plan because she is working part-time.

This means that she is entitled to the full $6,000 maximum deductible contribution to a traditional IRA.

Tommy on the other hand, participates in an employer-sponsored retirement plan which means he will have to remove a certain percentage from the deductible based on his range of $104,000 - $124,000.

That rate will be 15% so he will pay:
= 6,000 x ( 1 - 15%)

= $5,100

The total contribution is:

= 6,000 + 5,100

= $11,100

Find out more on contributions to traditional IRAs at brainly.com/question/3629169

#SPJ1

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All of the following are business-level cooperative strategic alliances EXCEPT: a. competition response strategic alliances. b.
wel

<u>Answer:</u>

All of the following are business-level cooperative strategic alliances EXCEPT D) Synergistic strategic alliances.

<u>Explanation:</u>

Business-level Cooperative strategies are used by the firms when they want to grow and improve the performance in the market of individual products. All this is achieved through various strategic alliances: Complementary Strategic Alliance, Competition-response, Uncertainty-reducing, and Competition-reducing strategic alliance. These alliances help overcome various problems of a business in the corporate world.

After listing all these strategies, it is clear that a Synergistic strategic alliance is not a part of business-level cooperative strategic alliances which means that option D is the correct choice.

Synergistic strategic alliance is a kind of agreement among business entities where they can work together to increase their overall output.

6 0
3 years ago
Dr. Evil presents the sound of a buzzer to his pet rabbit, and he follows it with the delivery of a small electric shock. After
alexdok [17]

Answer:

Reconditioning

Explanation:

Reconditioning means to "condition again" so the rabbit will demonstrate and condition the fear of the buzzer again.

5 0
3 years ago
Checkable deposits are classified as money because:
worty [1.4K]

Checkable deposits are classified as money because , They can be readily used in purchasing goods and paying debts.Choice( A)

Explanation:

Any demand deposit account against which, one can write a check or a draft is called checkable deposit. It is mainly used when a person has to withdraw money, at a short notice and he can do so, without giving any prior notice to the bank.

These deposits help in immediate access to cash. As these deposits are available easily , they are considered to be assets. .

Its an asset for the person who withdraws, as he can withdraw anytime without notice. It is a liability to the bank as the bank has to pay it, whenever the customer asks for it.

As these checkable deposits are easily available, they can be readily used in purchasing goods and paying debts.

8 0
3 years ago
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mojhsa [17]

Answer:

a. have been recorded on the company's books but not yet by the bank

Explanation:

The deposit in transit means the deposit is recorded in the book of the company accounts but the same is not recorded in the bank books of account unless when they are not deposited.

So while preparing the bank reconciliation statement, we added the deposit in transit and deduct the outstanding checks in the bank books of accounts    

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Answer:

In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources

(i.e :  India has an absolute advantage in operating call centers compared to the Philippines because of its low cost of labor and abundant labor force.)

Explanation:

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