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
Suppose you had invested $1000 in a company's stock, and then you later sold it for $1100. what is the % return on your investme
Tresset [83]
% return would be (total profit / total invested) * 100 so
( 100 / 1000 ) * 100 = 10%
5 0
3 years ago
Read 2 more answers
The most effective means of increasing productivity and overcoming economic crisis in the Late Middle Ages came from Select one:
Natalka [10]

Answer:

c. technological advances

Explanation:

The most effective means of increasing productivity and overcoming economic crisis in the Late Middle Ages came from increasing the efficiency of workers and providing workers with better tools

6 0
3 years ago
Mobile networks and infrastructure have the potential to reduce healthcare costs. Tracking medical equipment and hospital invent
3241004551 [841]

Answer:

Okay, of all your choices it is most definitely going to be RFID tagging

Explanation:

4 0
3 years ago
Faith Cassen has recently been hired as the manager of Gibraltar Coffee Shop. Gibraltar Coffee Shop is a national chain of franc
IrinaK [193]

Answer:

a.       I Disagree with Faith's method of handling this situation because she has not followed the internal control principle of safeguarding of assets. Stealing is a serious issue. An employee who can justify taking a box of tea bags can probably justify “borrowing” cash from the cash register.

b.      I Agree with Faith's method of handling this situation because Faith has followed the internal control principle of assignment of responsibility by making one employee responsible for the cash drawer and followed the internal control principle of segregation of duties (preparing the orders) from the accounting (taking orders and payments).

c.       I disagree with Faith's method of handling this situation because Faith has not followed the internal control principle of segregation of duties. It is true that faith has made one employee responsible however after cash counting another employee or Faith himself remove the cash register tape and compare the balance with cash drawer for effective internal control. Also, Faith’s standard of no mistakes may encourage the cashiers to overcharge a few customers in order to cover any possible shortages in the cash drawer.

6 0
3 years ago
The reporting method that includes in the cost of inventory (and cost of goods sold) all product costs, including both fixed and
Vlad [161]

Answer:

The answer is absorption costing.

Explanation:

This method is used to indicate that all costs have been absorbed by the units produced, and  includes the following costs (fixed and variable):

1. Direct labor.

2. Direct materials.

3. Fixed manufacturing overhead.

4. Variable manufacturing overhead.

7 0
3 years ago
Other questions:
  • Kirk wants to attend a four-year college. Which cost factors does Kirk need to research for the out-of-state school he wants to
    10·2 answers
  • On July 10, 2020, Carla Music sold CDs to retailers on account and recorded sales revenue of $686,000 (cost $528,220). Carla gra
    12·1 answer
  • Describe the steps that should be followed to safely exit an expressway
    9·1 answer
  • Resource Room prints custom training material for corporations. The business was started January 1, 2017. The company uses a nor
    8·1 answer
  • Nate purchased an​ interest-bearing security last​ year, planning to hold it until maturity. He received interest​ payments, and
    12·2 answers
  • Contracts are a form of private law because the terms contained within a contract bind the relevant parties, not the public as a
    6·1 answer
  • How does the interpretation of the regression coefficients differ in multiple regression and simple linear regression?
    9·1 answer
  • QS 19-10 Computing contribution margin LO P2 D’Souza Company sold 11,500 units of its product at a price of $77.00 per unit. Tot
    11·1 answer
  • Budgeted sales in Acer Corporation over the next four months are given below: Budgeted sales September October November December
    12·1 answer
  • ritzer argues that the operating procedures perfected (but not originated) by have been duplicated in countless arenas from amus
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!