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Cloud [144]
3 years ago
12

What is the maximum amount a 45-year-old taxpayer and 45-year-old spouse can put into a Traditional or Roth IRA for 2016 (assumi

ng they have sufficient earned income, but do not have an income limitation and are not covered by another pension plan)?
Business
1 answer:
tangare [24]3 years ago
6 0

Answer:

$5,500 USD

Explanation:

Since traditional Roth IRA accounts cannot be owned jointly, then both individuals must have their own account. That being said they can still contribute to each other's Roth IRA accounts on behalf of their spouse. You can contribute a total of 100% of your earned income up to a limit of $5,500 USD. Pensions are not allowed as contributions. Individual's over the age of 50 have a limit of $6,500

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2 years ago
Assess how Wal-Mart is managing ethics and social responsability as one of thé largest corporations in the world
timofeeve [1]

Answer:

Wal-Mart has taken revolutionary steps over the years to start econ friendly activities to promote ethics and social responsibility.

Explanation:

Wal-Mart began to take initiatives to address global impacts and embraced a sustainability program. It concentrated on redoing everything, and the main centre was to be Eco-friendly. There were original and inventive techniques received by the organisation, including building a solar panel to the stores. There was likewise establishment of innovations to use less fuel and electricity.

6 0
3 years ago
You are doing a sales presentation for Ms. Duarte and her son. Ms. Duarte has some cognitive impairment and her son informs you
Jet001 [13]

Answer:

Yes he can execute the enrollment for her

Explanation:

The power of attorney is a legal document that given the authority to act in place on another person. It can be represented on behalf of other people so that the act could be done.

Here the individual can act legal with respect to the financial issue, property matters, etc

Therefore according to the given situation yes he can be executed

4 0
3 years ago
Wang Company accumulates the following adjustment data at December 31. For each item, indicate (1) the type of adjustment (prepa
IRISSAK [1]

Answer:

a. Services performed but unbilled totals $600.

  • Accrued revenue
  • Accounts receivable was understated before the adjustment

b. Store supplies of $160 are on hand. The supplies account shows a $1,900 balance.

  • Accrued expense
  • Supplies was overstated before the adjustment

c. Utility expenses of $275 are unpaid.

  • Accrued expense
  • Utilities expense was understated before the adjustment

d. Service performed of $490 collected in advance.

  • Unearned revenue
  • Revenue was overstated before the adjustment

e. Salaries of $620 are unpaid.

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f. Prepaid insurance totaling $400 has expired.

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4 0
2 years ago
The fair rate is 8%. What is 100 per year, forever, worth now?
777dan777 [17]

Answer:

1. $1,250

2. $855.95

3. $3,333.33

4. $92.59

5. $46.32

6. $671.01

Explanation:

1.

$100 per year forever

Constant Cash flow every year forever is actually a perpetuity its present value is

PV of Perpetuity = Cash flow / rate of return

PV of $100 Perpetuity = $100 / 0.08 = $1,250

2.

$100 per year for 15 years

Constant Cash flow every year for specific time period is actually a Annuity  its present value is

PV of annuity = P + P [ ( 1 - ( 1 + r )^-n ) / r ] = $100 + $100 [ ( 1 - ( 1 + 0.08 )^-15 ) / 0.08 ] = $855.95

3.

$100 per year grow at 5% forever

It is a growing perpetuity and its present value will be calculated as follow

Present value of growing perpetuity = Cash flow / Rate of return - growth rate

Present value of growing perpetuity = $100 / 0.08 - 0.05 = $3,333.33

4.

$100 once at the end of this year

Present value = P ( 1 + r)^-n = $100 ( 1 + 0.08 )^-1 = $92.59

5.

$100 once after 10 years

Present value = P ( 1 + r)^-n = $100 ( 1 + 0.08 )^-10 = $46.32

6.

$100 each year for 10 years @ 8%

PV of annuity = P + P [ ( 1 - ( 1 + r )^-n ) / r ] = $100 + $100 [ ( 1 - ( 1 + 0.08 )^-10 ) / 0.08 ] = $671.01

5 0
3 years ago
Read 2 more answers
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