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daser333 [38]
3 years ago
6

An IRA uses immediate annuities to pay out benefits; the IRA owner is nearly 75 years old when he decides to collect distributio

ns. What kind of penalty would the IRA owner pay?
Business
1 answer:
soldier1979 [14.2K]3 years ago
3 0

Answer:

50% tax on the amount not distributed as required

Explanation:

In this specific scenario, the individual will have to pay a penalty of 50% tax on the amount not distributed as required. This is mainly due to the fact that traditional IRA accounts require that distribution of benefits must begin no later than age 70½ if immediate annuities are used to pay for them. Failure to do so would have a consequence of a 50% tax on the undistributed amount, and must be paid by the owner of the account.

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$4163.57

Explanation:

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7 0
3 years ago
What was the CEO of Tyco accused of doing?
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Answer:

The correct answer is A.) Falsifying records to keep the company stock price from falling.

Explanation:

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4 0
2 years ago
If a cost estimate indicates that a residential design is significantly over budget, what changes would you consider to reduce t
kogti [31]
<h3><u>Changes considered to reduce the cost of the project: </u></h3>

Cost Estimates of a Residential Design have the following elements:

1) Quantity Takeoff

2) Labor Hours

3) Labor Rates

4) Material Prices

5) Equipment Costs

6) Subcontractor Quotes

7) Indirect Costs

8) Profit Margin

Quantity Takeoff is the very basic element required in Residential Building. Labor hours and rates depends on the location, work difficulty, market value, and other extrinsic factors. Material prices and Subcontractor Quotes again depends on location, supply and demand. Equipment Costs depends on the location, place of purchase, transportation cost, size of equipment, etc. Indirect costs are overheads for labor and contractors.

As we can check the above elements, we cannot change Quantity takeoff, as no one wants to compromise in the quality. However, we can try to slightly negotiate with Labor rates and Subcontractor Quotes. Again, as mentioned the budget is significantly high, so we need to work on reducing 2 costs, which are Equipment Costs and Material Prices.

6 0
3 years ago
A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and paid out cash dividends of
snow_lady [41]

Answer:

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3 years ago
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