All categories

3 years ago

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

Business

1 answer:

Inessa [10]3 years ago

4 0

1. I believe the answer is: decrease/decrease

401k is taken from a part of your total income. So, increasing the amount of 401k deduction would reduce the amount of income that you can brought home. But, since 401k is not eligible as tax payment, increasing it would be resulted in the decrease of your tax payment.

2. I believe the answer is: increase/not change

w-4 allowance would provide us with tax deductables that can reduce our federal tax payments depending on our marital status. It would increase the net pay that you can bring home, but since it part of obligation to begin with, there would be no change in your total tax burden

3. I believe the answer is: The refund would be larger

Decreased w-4 allowance in this context would mean that you pay more taxes than your are obligated to pay (usually happen when you forgot to include your deduction) , because of this, you have the right for a larger refund to compensate for the over payment.

4. I believe the answer is: net pay

Net pay refers to The amount of payment that you still hold after all deductions are being made. Net pay represent your overall disposable income, meaning the maximum amount of income that you could use for your consumption.

5. I believe the answer is: You minimize your tax refund

Tax refund could only be gotten after you following the procedures that could take up a lot of your time. Rather than getting the financial value from tax refund, you should get it from not over paying the tax payment to begin with. With this you obtain the financial value without following time consuming procedures.

You might be interested in

Don Juan, a single taxpayer, is the sole owner of DJ’s Inc., an S Corporation. This year, DJ’s Inc. incurred a massive $600,000

Darina [25.2K]

Answer:

Don Juan is sole business owner and his loss in excess to the minimum threshold amount is $250,000. So Don Juan may deduct the amount $350,000 in terms of loss.

If Don Juan does not deduct the loss this year, it would be carried forward to next fiscal statement

Explanation:

Part 1. The calculation is made as below

Excess of business loss ($600,000) – (other business income + Threshold amount ($250,000))

The minimum threshold amount is deductible from the Tax comes out to be $350,000

Part 2. The loss is reflected in next year’s tax statement as net operating loss and can be carried forward. So if Don Juan miss the loss deduction claim, he can do it next year.

4 0

3 years ago

Occasionally our economy experiences an unusual combination of rising prices and high unemployment. economists have given this u

Alborosie

Occasionally our economy experiences an unusual combination of rising prices and high unemployment. economists have given this unusual pairing the name stagflation.

Stagflation is a combination of the words ‘stagnation’ and ‘inflation’. It refers to the economic trend where there is rising prices yet high levels of unemployment.

It leads to an intractable situation where policy initiatives to boost economic growth such as expansionary monetary policy worsens the inflation rate, while attempts to rein in inflation has a further dampening effect on the economy. It is often caused by poor economic policies.

Stagflation was observed in the US economy during the oil crisis of the 1970s that caused a major recession. But inflation and unemployment rates were at a high during this time.

To learn more about stagflation : brainly.com/question/11224683

#SPJ4

8 0

1 year ago

A marketing concept is a plan on how to market a product of service to consumers.

kkurt [141]

I believe the answer could be TRUE correct me if im wrong and i hope its right and i just wanna be a good friend too you by answering this dawg!!!

5 0

3 years ago

The top management of the company asks earl to make use of a rating scale that will rate the employees' actual job behaviors. th

ki77a [65]

What the managers are asking for steve to use is a <span>behaviorally anchored rating scale or most commonly called in the acronym as BARS. The numerical range of rating of this scale is between 5 to 9 which helps describe the type of performance incurred by the employee from poor to outstanding. This is used in the appraisal process of employees.</span>

5 0

3 years ago

Assume a company had the following production costs: Direct labor $ 2 per unit Direct material $ 3 per unit Variable overhead $

Mamont248 [21]

Answer:

Total production cost $ 14 per unit Under absorption costing True

The total product cost per unit when 4,000 units are produced would be $22.50 False

Explanation:

Direct labor $ 2 per unit

Direct material $ 3 per unit

Variable overhead $ 4 per unit

Total variable $ 9 per unit

Fixed overhead ($50,000/10,000 units) $ 5 per unit

Total production cost $ 14

Production Costs involve the fixed costs under absorption Costing. So the total Product cost under absorption costing is $ 14.

When 4,000 units are produced the production costs are as follows

Absorption Costing: 4,000 * 14= $ 56,000

Variable Costing : 4000 * 9= $ 36,000

So the second statement is false.

3 0

3 years ago

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

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