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kramer
3 years ago
14

William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2019 AGI is $68,000 (all

earned income). (Leave no answer blank. Enter zero if applicable.)If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2019?
Business
1 answer:
lyudmila [28]3 years ago
3 0

Answer:

The maximum IRA contribution William can make is $6000 a year.

Explanation:

There are limits in the IRA contribution plans to make sure that there are no people benefiting more than others because of their high pay instead limits are per age. if younger than 50 years then Maximum contribution per year is $6000 and if older then it is $7000 it is increasing with age not salary.

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Complete question :

Your company has sales of $101,500 this year and cost of goods sold of $66,300. You forecast sales to increase to $118,900 next year. Using the percent of sales method, forecast next year's cost of goods sold. The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career The forecasted cost of goods sold (COGS) is $ ___________ (Round to the nearest dollar.)

Answer:

$77,666

Explanation:

Given the following :

Sales for the year = $101,500

Cost of goods sold =$66,300

Forecasted increase in sales for next year = $118,900

Forecasted cost of goods sold for next year =?

Percentage cost of goods sold for this year:

Cost of goods sold / sales for this year

$66300/$101500

= 0.6532019

Forecasted cost of goods sold for next year:

(Forecasted increase in next year's sale * % cost of goods sold for this year)

= 118,900 * 0.6532019

= $77665.714

= $77666 ( nearest dollar)

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A technology company needs 10 workers experienced in a newly developed programming language. Plenty of applicants express intere
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Answer:

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B) If an Insurance company charges 0.6% for replacing a stolen car, then the policy will cost beth:

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C) To be risk-neutral means to be indifferent to the risk. This means that Beth would be indifferent. She most likely will be focused on maximizing value for money. In other words, she will NOT pay for the insurance policy in part b because part A provides her with the exact (or fair) premium for her insurance.

D) The moral hazard problem is this, people tend to become more careless with an insurance policy in place. This moral hazard arises form the knowledge that there is an insurance policy that caters to their risks.

As a matter of practice, therefore, insurance companies factor this increased risk into their premiums. Where the premium was supposed to be $100, they may charge $120.

In summary, it means that Beth most likely will move from becoming risk neutral to becoming (to a certain degree) more risk loving.

Cheers!

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