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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.

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Megan Finder, a recent college graduate, is applying for her first credit card. The creditor has asked for a personal net worth
valentina_108 [34]

Answer and Explanation:

The computation of the net worth statement is shown below:

Assets

Checking account  $800

Scooter $2,000

Total assets $2,800 (A)

Liabilities

OWed to jaycee Auto $920

River college $125

Total liabilities $1,045 (B)

Net worth $1,755 (A - B)

7 0
2 years ago
Three major transportation segments and a major company within each segment are as follows:
Irina18 [472]

Answer:

Segment Company Motor

a) The asset turnover ratios for all three companies. Round to two decimal places are:

YRC Worldwide ___4.76_____

Union Pacific ___0.46____

C.H. Robinson Worldwide __12.34____

b) Based on the Asset Turnover Ratio computed above, Transportation Arrangement is the most efficient.  It outperformed YRC Worldwide and Union Pacific Corporation in deploying assets to generate revenue.  The performance of Union Pacific Corporation in comparison is very abysmal.

Explanation:

a) Data and Calculations:

                              YRC Worldwide   Railroads Union         Transportation    

                                 Inc. (YRCW)    Pacific Corporation    Arrangement C.H.

                                                                  (UNP)

Sales                              $4,832                $21,813                      $13,470

Average long-term

operating assets             1,016                47,569                           1,092

Asset turnover = Sales/Average operating assets

=                                        4.76                  0.46                            12.34

5 0
2 years ago
Why did Milan say that he does not like to interview potential employees?
Aneli [31]
It’s the second one,about not being able to see someone’s work-ethic
8 0
2 years ago
Hsung Company accumulates the following data concerning a proposed capital investment: cash cost $175, 846, net annual cash flow
alexira [117]

Answer:

NPV = $11400

As the NPV from the project is positive, the investment should be made.

Explanation:

The NPV or net present value is an important metric that is used for project and investment evaluation. The NPV is the present value of the series of cash flows provided by the project less the initial cost incurred to undertake the project. NPV can be calculated as follows,

NPV = (Annual Cash Flow * Present value factor) - Initial cost

NPV = (37300 * 5.02)  -  175846

NPV = $11400

As the NPV from the project is positive, the investment should be made.

6 0
2 years ago
Your 8-year-old cat ran away, got into a neighbor's cellar, and was stuck there for two months. luckily, there was enough food a
Reptile [31]
Unaffected. That Is Your Answer.
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