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3 years ago

. Increasing your 401k deduction will your take-home pay and __ your federal taxes in the current year

2 answers:

7 0

I believe the answer is: <span>decrease/decrease

two facts about 401k are:

- It directly deducted from the amount of salary that you receive from your workplace, which would reduce your take home pay.

- The tax rate that you should pay is multiplied by your net income. When your income is deducted through 401k, the amount of your net income would be reduced along with your tax payment.
</span>

tatyana61 [14]3 years ago

7 0

Boosting 401k contribution is a good saving plan for retirement. If you increase your 401k contribution, then you will be able to save more and will decrease your take-home pay. This not only boosts saving but also affects the federal taxes int he current year. It can also get with held for your federal and state taxes.

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A company's flexible budget for the range of 35,000 units to 45,000 units of production showed variable overhead costs of $2 per

Ipatiy [6.2K]

Answer:

$3200 favorable

Explanation:

We have given range of number of production = 40000 units

So average of number of units $=\frac{35000+45000}{2}=40000$

Variable cost = $2 per unit

So total variable cost = 40000×$2 = $80000

Fixed overhead = $72000

Budgeted overhead for actual production = Variable overhead +Fixed overhead = $80000+$72000 = $152000

Actual total overhead cost = $148,800

Total overhead controllable cost variance = Budgeted overhead - Actual overhead

= $152,000 - $148,800 = $3,200 favorable.

6 0

3 years ago

"Dream, Inc., has debt outstanding with a face value of $4 million. The value of the firm if it were entirely financed by equity

Artist 52 [7]

Answer:

expected bankruptcy costs = $190000

Explanation:

given data

face value = $4 million

equity = $18.6 million

stock outstanding = 510000 shares

sell price = $31 per share

corporate tax rate = 35 percent

to find out

decrease in the value of the company due to expected bankruptcy costs

solution

we get here value of levered firmed by M & M proportion

value of levered firm = value of equity + value of debit

value of levered firm = $18.6 million + 35% ( $4 million)

value of levered firm = $20 million

and

now we get total market value of firm that is

total market value of firm = market value of equity + market value of debit

total market value of firm = $31 ( 510000 ) + $4 million

total market value of firm = $19810000

so expected bankruptcy costs are here as

expected bankruptcy costs = $20 million - $19810000

expected bankruptcy costs = $190000

7 0

3 years ago

_____ is the amount of information a communication medium can carry and the extent to which the medium enables the sender and re

asambeis [7]

Answer:

Information richness.

Explanation:

<u>Information richness</u> is the amount of information a communication medium can carry and the extent to which the medium enables the sender and receiver to reach a common understanding. This is the correct answer to your question.

Hope this helps!!!

Kyle.

8 0

3 years ago

The IRS assessed a large tax and penalty against Karl. Karl retained Roger, the CPA who prepared the tax returns, to challenge t

soldi70 [24.7K]

Answer:

d.economic duress

Explanation:

The economic duress in simple terms means a party who is entering into a contract frightens or threatens of cancelling the contract or does not act according to the terms of the contract unless the other party in the contract agrees to their demands.

In the context, the conduct of Roger against Karl is probably can be called as the 'economic duress' as Roger informs Karl before the deadline of filing the response that he will not represent himself against IRS unless Karl enters into a deal of an expensive retainer agreement. Thus it is an economic duress that Roger is showing and forcing Karl to agree on his demands.

7 0

3 years ago

Robert Sampson owns a townhouse valued at $185,000 and still has an unpaid mortgage of $150,000. In addition to his mortgage, he

AlexFokin [52]

Answer:

0.31

Explanation:

Given that,

Visa = $ 755

MasterCard = 380

Discover card = 555

Education loan = 3,900

Personal bank loan = 650

Auto loan = 6,000

Total debt (not including mortgage) = $12,240

Net Worth (not including home) = $39,000

Robert's debt-to-equity ratio:

= Total debt ÷ Net worth

= $12,240 ÷ $39,000

= 0.31

8 0

3 years ago

. Increasing your 401k deduction will ________ your take-home pay and __________ your federal taxes in the current year

. Increasing your 401k deduction will your take-home pay and __ your federal taxes in the current year