You put $2,000 into a tax-deferred retirement account this year. your marginal tax rate is 15%. how much did you save on this ye

Question

3 years ago

8

ar's tax bill?
a.$150
b.$300
c.$1,700
d.$2,000

2 answers:

viva [34] · Answer 1 · 2022-06-01T05:03:00+03:00

viva [34]3 years ago

6 0

I want to say 150 which is answer A

Nady [450] · Answer 2 · 2022-06-01T07:17:53+03:00

Usually we pay some tax to the government on the salary or earning.

Given that money deposited into tax-deferred retirement account this year = $2000

Given that marginal tax rate = 15 %

Now we have to find the how much did you save on this year's tax bill.

tax on deposited money will be = 15% of 2000

= 0.15* 2000 = 300

So tax paid = $300

Money left after paying tax = $2000 - $300 = $1700

Hence money saved this year’s tax bill is $1700.