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Radda [10]
2 years ago
14

Which statement describes the effect of taxes on a traditional 401(k) retirement account?

Business
1 answer:
worty [1.4K]2 years ago
3 0

Answer:

A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.

Explanation:

A 401 k is a qualified tax-advantaged saving retirement plan. Usually, 401K  plans are employer-sponsored. Employee contributions to the 401 k plans are deducted from the payroll before taxes are calculated. It means the employee contribution is not taxed at the time it's withheld by the employer.

The amounts saved are invested in market securities such as shares and bonds. The tax due from earning from the investment is deferred to the time of withdrawal. The employee is not required to pay taxes on contributions and investments earning every financial year.

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Edmund must pay $6 each for punk rock video cassettes, ????. Edmund is paid $24 per sack for accepting garbage, ????, and his re
Reil [10]

Answer:

The equation for Edmund's budget line is 6C - 24G = 48

Explanation:

A budget line shows all possible combinations of two commodities that a consumer can buy at a given income level and at given market prices of commodities. The equation of the budget line is as follows.

M = (Px).X + {Py).Y where

M = Income

Px = Price of commodity X

X = Units of commodity X purchased

Py = Price of commodity Y

Y = Units of commodity Y purchased

In this question, Edmund's income is $48. Let C represent the units of punk rock video cassettes that he buys. Each one costs $6.

In addition, rather than spending on another commodity, he earns $24 per sack for accepting garbage. Let G represent the number of garbage sacks he accepts. Putting these values in the above equation, we have:

48 = 6C - 24G

Rearranging the equation, we have the final answer, which is:

6C - 24G = 48

7 0
3 years ago
Despite zero population growth, why is the population of the United States growing?
vovangra [49]
People migrating from other countries couples having more than two babies 
7 0
3 years ago
If the kitchen in an operation has sewage backup the manager should
Ira Lisetskai [31]
<span>If the kitchen in an operation has sewage backup the manager should call a plumber to come fix the issue. If the sewage is backing up to the point it could contaminate any food being cooked/served, the manage should temporarily close down the restaurant until everything is fixed and working properly. </span>
3 0
3 years ago
The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) resulted in implementation of risk contracts, which are arrangement
Sever21 [200]

Answer:

Capitated

Explanation:

Based on the information given the implementation of the risk contracts by TEFRA is to ensure that are medical arrangements are made among providers in order to provide CAPITATED health care services to Medicare beneficiaries.

CAPITATED health care services can be seen as the way in which medical treatment payment are made to the providers of health care service in advance for the sole aim of providing medical services or treatment to patient which are the Medicare beneficiary that have registered and assigned to them for a specific period of time.

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2 years ago
What is the process of converting illegally earned assets to conceal their origin?
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Its Money laundering
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3 years ago
Read 2 more answers
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