Answer and Explanation:
The computation of each part is to be shown in the attachment. The one statement is of final values and the other one is of formula sheet.
This one applied for all the things which need to be find out
Kindly find the attachment below:
We use the RATE formula for determining the rate of return and the same is to be considered
A number that can be added but idk do u know because im bored and have home work and all fs so i need help im home schooled
The available options are:
A. No contribution can be made because the woman does not have earned income
B. A contribution of up to $6,000 is permitted, but the contribution is not tax deductible.
C. A tax deductible contribution of up to $7,000 is permitted
D. A tax deductible contribution of up to $9,000 is permitted
Answer:
No contribution can be made because the woman does not have earned income
Explanation:
Unlike in the previous years before 2019, concerning divorce agreements, alimony is now declared to be no longer deductible by the payor and at the same time is considered to be a tax-free income to the recipient. In essence, this indicates that alimony is no longer qualifies as earned income and therefore, cannot be utilized to fund an Individual Retirement Account.
Hence, in this case, since it is , year 2020, the correct answer is "No contribution can be made because the woman does not have earned income."
Stephanie's marginal tax rate is 15%.
<u>Explanation:</u>
The Average tax rate is 8%
she pays $3.75 as the tax on $25 which makes tax rate at this point =3.75/25
= 15%
The Marginal tax rate is the percentage of income that has to be paid as tax as a result of a change in the income bracket.
For instance, if tax rate until $1-$1000 is 10%
and for $1000 and above is 20%.
So for every $ earned over and above $1000.The marginal tax rate for that sum is 20%.
The answer may be 5 but roynd to the nest 10
