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stepladder [879]
3 years ago
14

joan made deductible contributions to traditional retirement accounts for several years. in 2018 she decided to withdraw $10,000

from one of her accounts. joan is 62 years old how does this transaction affect her 2018 tax return
Business
1 answer:
lukranit [14]3 years ago
4 0

Answer:

Joan will pay income tax on the $10,000 she withdrew in 2018.

Explanation:

When withdrawing from traditional retirement account, the following rules apply:

1. Withdrawals before attaining the age of 59.5 years attract a penalty of 10%, along with income tax on the amount withdrawn.

2. Withdrawals after the age of 59.5 years are treated as income, so income tax is paid on it. In this case tax on the $10,000 withdrawn.

3. At age 70.5 and above you must take the Required Minimum Distribution (RMD) from the pension account.

Note: Roth IRA does not attract tax payments for ages 59.5 years and above, unlike traditional IRA that attracts income tax.

RMD payments does not apply for Roth IRA.

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Suppose that a company needs 1,500,000 items during a year and that preparation for each production run costs $900. Suppose also
bulgar [2K]

Answer:

30,000 units

Explanation:

we can use the economic order quantity formula:

EOQ = √(2SD/H)

where:

  • S = order cost (per purchase order) ≈ production run cost = $900
  • D = demand in units (annual basis) ≈ production requirement = 1,500,000 units
  • H = holding costs (per unit, per year) = $3 per item, per year

EOQ = √[(2 x $900 x 1,500,000) / $3] = 30,000 units

5 0
3 years ago
Match each situation with the term that best describes it. Use each term only once.
Dmitry [639]

Answer:

1. One of your subordinates only seems to respond to threats of punishment. What type of power should you use to motivate him?

h. <u>Persuasive power </u>

2. You manage a difficult subordinate who only cooperates when she feels that you have the formal authority to ask her to do something. What type of power should you use to motivate her?

b. <u>Legitimate power</u>

3. One of your subordinates looks up to you as a role model. What type of power should you use to motivate her?

a. <u>Personal power</u>

Explanation:

In any given situations there are different incidents that would require someone to apply different power in-order to manage the situation. This could be in form of motivation or deterrent method during the application of the power.

For example, in the case of the subordinate looking up to you as a role model, you should apply personal power in-order to motivate the person. the personal power will help you to build personal relationship between the subordinate and you.

7 0
2 years ago
Everything else held constant, an increase in uncertainty on business will_____ the required rate of return on its stock and ___
wlad13 [49]

Answer:

the answer is C

Explanation:

6 0
2 years ago
Suppose autos cost consumers $30,000 and trucks cost consumers $15,000. What contribution does the production of 200 autos and 2
alexgriva [62]

Answer:

the  contribution made to the production of 200 autos and 200 trucks is $9,000,000

Explanation:

The computation of the contribution made to the production of 200 autos and 200 trucks is shown below

Contribution to GDP is

= $30,000 × 200 + $15,000 × 200

= $6,000,000 + $3,000,000

= $9,000,000

Hence, the  contribution made to the production of 200 autos and 200 trucks is $9,000,000

6 0
3 years ago
John just opened a savings account and wants to maximize the amount of interest he earns. Which of the following actions would e
jeka94
Since their is no choices he shouldn’t never touch the money and keep adding cash it increase it over time.
8 0
3 years ago
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