1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sholpan [36]
3 years ago
14

Your customer, age 68, that has an IRA account at your firm valued at $500,000, passes away. The customer leaves the account to

his son, age 38. He has no need for current income as he is still working, and wishes to know his best option to minimize taxes. He expects to retire in 22 years, at which time, he will need the funds to pay for annual living expenses. You should advise the son to:
Business
1 answer:
schepotkina [342]3 years ago
5 0

Answer:

He should roll the funds over into a new IRA in the spouse's name

Explanation:

Since the son is expects to retire in 22 years, in which at that time he will be in need of the funds to pay for his or his Family annual living expenses the best advice I would give the son is for him to roll all the funds over into a new IRA in the name of spouse's because the IRA Account which is fully known as INDIVIDUAL RETIREMENT ACCOUNT is an individual retirement plan that can help to provides all tax the advantages that an individual needs for their retirement savings.

You might be interested in
You are auditing Rodgers and Company. You are aware of a potential loss due to noncompliance with environmental regulations. Man
aniked [119]

Answer:

D. disclose a liability and provide a range of outcomes.

Explanation:

As there are 40% chances to the outcome that liability will occur, it is not nominal to be ignored. And therefore, it shall be shown in the balance sheet, as a note, with different possibilities and their expected results.

As the amount attached is huge and that the company shall not ignore such a coming liability, as if it do not happen, it can be reversed, and if it does the company shall be ready to have the liability in case of any default.

4 0
3 years ago
Which question can help a writer analyze a prompt and develop a claim for an argumentative essay?
lana66690 [7]

the answer is b.

i took the test

3 0
3 years ago
Read 2 more answers
What is horizontal segmentation?
Gekata [30.6K]

Answer: Horizontal segmentation try's to understand what customers want and then to deliver it.

8 0
2 years ago
Brand 123 has customers in many countries purchasing its bicycles, but its managers are unsure if the brand is truly a "global b
Inga [223]

Answer: d. 30%

Explanation:

Global brands are companies that have achieved international success such that they are recognised in many other countries apart from their own and have many customers in other countries as well.

However, simply being known abroad does not classify a company as a global brand. The company must be generating sufficient revenue from their operations outside as a proportion of their total revenue their home country with sufficient meaning at least 30% of their revenue.

6 0
3 years ago
Which of the following is not a step in the decision-making model? Select one: a. identify alternatives b. determine costs and b
storchak [24]

Answer:

The answer for what is not a step in the decision making model is option E) consider qualitative factors

Explanation:

The steps in decision making model includes the following

  1. defining the problem
  2. collation of data
  3. Identifying the alternatives
  4. determining costs and benefits for both feasible and unfeasible alternatives
  5. total relevant costs and benefits for each alternative
  6. action Plan

Considering qualitative factors is a post decision making action. It happens during the decision analysis phase.

7 0
3 years ago
Other questions:
  • World Class Rings produces class rings. Its best-selling model has a direct materials standard of 16 grams of a special alloy pe
    15·1 answer
  • Duke is a particularly highly skilled negotiator. the law firm that hires duke is able to collect twice as much revenue per hour
    8·1 answer
  • What are the 2 main sources of data
    5·2 answers
  • Prepaid Insurance $11,048. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on
    10·1 answer
  • Robinson Manufacturing found the following information in its accounting​ records: $ 519 comma 800 of direct materials​ used, $
    13·1 answer
  • Which of these represent the correct order of steps of the flow of accounting information? Prepare a trial balance. Analyze what
    5·1 answer
  • Bob, a salesperson at a Carpets Galore store, tells Dita, a customer, "Buy your carpet here, and I'll install it for half of wha
    10·1 answer
  • Michael Peters is a middle-aged professional who lost his job five months ago when his former employer downsized. He’s been ac
    7·1 answer
  • S4-2 (similar to) Question Help Sally's FurnitureSally's Furniture uses departmental overhead rates​ (rather than a plantwide ov
    9·1 answer
  • Employers may pay nonexempt employees who work fluctuating schedules a fixed salary. in these cases, the extra pay is?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!