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 Withdrawals before attaining the age of 59.5 years attract a penalty of 10%, along with income tax on the amount withdrawn.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 In this case tax on the $10,000 withdrawn.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.
It is C: Airlines
under the airlines deregulation act, the federal law removed the government's control over fares route and market entry however the act should not remove or diminish overall aspect of air safety by the federal aviation administration.
Answer:
In 269th Payment the principal component is greater than half of the payment
Explanation:
Amortization schedule is attached please find it.
The loan payment includes the interest and principal portion. After deducting the interest on the due balance the residual amount is paid towards the principal.
Loan is paid per month, the amount of each payment can be calculated as follow:
Loan Payment per month = r ( PV ) / 1 - ( 1 + r )^-n
r = rate per period = 9% per year = 0.75% per month
n = number months = 30 years x 12 months per year = 360 Months
PV = present value of all payments = $420,000
P = payment per month = ?
P = 0.75% ( $420,000 x 90% ) / 1 - ( 1 + 0.75% )^-360
P = $3,041.47 per month
Answer:
The variance is: $ 0.50 per direct labor hour.
Explanation:
Actual payroll = $117,000/6000h = $19.50 per hour
So, if we compare this value with the standard rate of pay ($20 per direct labor hour) The variance is: $20.00 - $ 19.50 = $0.50 per hour
It is difficult to compare relative job growth for different-sized
businesses because it is hard to determine the cutoff point at which a small
business becomes a large business. It is not easy to know the comparative job development
amongst businesses of different sizes. There are not the same parameters leading
the size of a small business versus a big business. Moreover, there is no defined
point where such a variation can be clearly identified.