Answer:
Calculate the tax consequence of withdrawal from retirement account.
T and L are 40 years old and decide to withdraw $2,100 from their IRA. They lie in a 35% marginal tax bracket.
Analysis
They are withdrawing some amount from their retirement fund. They have to pay the tax and penalty for early withdrawals from the retirement fund. The withdrawal amount is $2,100 so they have to pay tax on it. The tax rate will be 35% which is their marginal tax bracket.
Calculation of tax consequences if withdrawal amount is $2,100:
Ordinary income tax amount calculates by multiplying the withdrawal amount with the ordinary tax rate.
= $2100 × 35%
= $735
The withdrawal amount attracts the 10% penalty. So, the penalty amount is calculated as follows: Penalty on withdrawn funds calculates by multiplying the withdrawn funds with the percentage of penalty.
= $2100 × 10%
= $210
(NOTE: - T and L have to pay ordinary income tax along with the penalty on their withdrawal because they are withdrawing funds from their IRA before age 59.5.)
Total expenses include the tax amount and penalty charge on withdrawal amount. So, it is calculated as follows:
Total expenses =$735 + $210
Total expenses = $945
Conclusion
Therefore, T and L would incur a tax of $945 on their withdrawal. This $945 is the sum of income tax amount and penalty on withdrawal balance.
Answer:
Option b seems to be the correct approach.
Explanation:
- Liaison seems to be collaboration as well as the communication of knowledge among various organizations as well as between multiple portions of the institution.
- Communication among groups of the military services or indeed any entity shall be established in needed to guarantee coordinated action, partnership, respectively.
Some other options aren't relevant to the current situation in question. So choice b was its right one
Answer:
de-industrialization
Explanation:
Deindustrialization refers to the phase of social and economic event caused by the elimination or decrease of industrial base or operation in a region or country, in particular of manufacturing industries or mining. It's the reverse of being industrialised.
It is the opposite of industrialization. Deindustrialization usually happens as it is no longer profitable for a specific industrial activity. It's a phase in which industrial development is eliminated or decreased in a country or area due to a major social or economic transition.
Answer:
$227,500
Explanation:
The computation of the total amount of cash paid is shown below:
Cash paid for insurance premium = Prepaid Insurance at end of the year + Prepaid Insurance recognized - Prepaid Insurance at the beginning of the year
= $61,250 + $218,750 - $52,500
= $227,500
We simply applied the above formula so that the correct amount of cash paid could come with respect to the insurance premium
The dividend yield for Digby is $23.33
<h3>
What is Dividend Yield?</h3>
- A financial ratio (dividend/price) called the dividend yield, which is stated as a percentage, demonstrates how much a firm pays in dividends annually in relation to the price of its stock.
- Price/Dividend, often known as the dividend yield ratio, is the counterpart of dividend yield.
- The amount of money a firm pays shareholders for owning a share of its stock divided by its current stock price is known as the dividend yield, which is represented as a percentage.
- The majority of mature corporations pay dividends.
- The dividend yields of businesses in the consumer goods and utility sectors are frequently greater than average.
- The dividends from real estate investment trusts (REITs), master limited partnerships (MLPs), and business development corporations (BDCs) are taxed more heavily than the typical dividend.
Explanation:
Given that
Dividend per share = $19.69
Increase in Dividend = $3.64
Using this formula
Dividend yield = Dividend per share + Increase in Dividend
Dividend yield = $19.69+$3.64
Dividend yield =$23.22
Therefore the Dividend yield will be $23.22
To learn more about Dividend yield with the given link
brainly.com/question/28044310
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