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Eva8 [605]
2 years ago
15

How do you know if you are eligible to open and make contributions to a Roth IRA?

Business
1 answer:
Whitepunk [10]2 years ago
7 0

Answer:

The correct answer is letter "B":You have to earn below a certain amount to make contributions .

Explanation:

A Roth Individual Retirement Account (IRA) is the type of retirement account where contributions grow tax-free and allows individuals to withdraw funds under certain conditions. <em>People are eligible to open a Roth IRA as long as their income is less than $139,000 for singles and $206,000 for married couples- </em>information that applies for the year 2020.

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If the amount realized at a Sheriff's sale upon a delinquent mortgage is more than the indebtedness, the excess belongs to:_____
timofeeve [1]

Answer: The mortgagor

Explanation:

If the amount realized at a Sheriff's sale upon a delinquent mortgage is more than the indebtedness, the excess belongs to the mortgagor.

It should be noted that the mortgagor is the borrower, therefore he or she is the person that is entitled to the excess received upon the sake of the asset.

4 0
3 years ago
On June 30, 20X4, Ank Corp. pre-paid a $19,000 premium on an annual insurance policy. The premium payment was a tax-deductible e
AURORKA [14]

Answer:

$2,375

Explanation:

Calculation to determine what amount related to the insurance should be reported as a deferred income tax liability

Using this formula

Deferred income tax liability=Accrual-basis income statement* Tax rate

Let plug in the formula

Deferred income tax liability=$9,500*25%

Deferred income tax liability = $2,375

Therefore The amount that is related to the insurance that should be reported as a deferred income tax liability is $2,375

7 0
2 years ago
How much money does suzie need to have in her retirement savings account today if she wishes to withdraw $42,000 a year for 25 y
BaLLatris [955]
<span>The money Suzie needed is $388,683.83.
To calculate this we use the following formula;
= 42,000 ×((1 - (1 / (1 + .0975)</span>²⁵))<span> / .0975 
=42000 x (1 - (1/10.2355980492) / 0.0975
=42000 x (1 - 0.0976982483) / 0.0975
=42000 x (0.9023017517) / 0.0975
=37896.6735714 / 0.0975
= $388,683.83150153 
= $388,683.83</span>
4 0
2 years ago
Solve the questions to the case study attached below
Sergio039 [100]

Explanation:

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8 0
3 years ago
Create a bulleted list of four descriptive terms describing possible backgrounds a person may have
Tpy6a [65]

Answer with Explanation:

The possible descriptive terms which describes the background a person may have are listed below:

  • He might be happy, sad or crazy.
  • Honesty values that the person have.
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  • He might be introvert or extrovert.
  • He might be welcoming diversity.

There are number of descriptive terms that can shed light on the behaviour and background of the person.

4 0
2 years ago
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