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Radda [10]
3 years ago
14

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

Business
1 answer:
worty [1.4K]3 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A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.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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Because corporate officers have the implied power to bind the firm in matters directly connected to its business, there is no li
mr Goodwill [35]

It should be noted that corporate officers have the implied power to bind the firm in matters directly connected to its business.

<h3>Who are corporate officers?</h3>

corporate officers serves as those workers in a company or an organization who are seen as officials and they have allocated duties and responsibilities .

These officers posses the power to bind the firm in matters directly connected to its business.

Learn more about corporate officers at,;

brainly.com/question/24518056

5 0
2 years ago
Serile Pharma places 800 units in production during the month of January. All 800 units are completed during the month. It had n
liberstina [14]

Answer:

Per unit cost will be $197.5

Explanation:

We have given number of units produced = 800

Direct material cost added in January = $74000

And conversion cost added in January = $84000

So total cost = $74000+$84000 = $158000

We have to find the per unit cost of product produced

So per unit cost is given by total cost divided by total number of units produced

So per unit cost =\frac{158000}{800}=$197.5

4 0
3 years ago
You’ve decided to buy a house that is valued at $1 million. You have $250,000 to use as a down payment on the house, and want
LuckyWell [14K]

Answer: $6581.58

Explanation:

Based on the information given in the question, the mortgage payment per month will be calculated thus:

= [P x I x (1+I)^N]/[(1+I)^N-1]

where,

P = Principal = $750000

I = Interest rate per month = 10%/12 = 0.10/12 = 0.008333

N = number of installments = 30 × 12 = 360

Then, the equated monthly installment will be:

= [750000 × 0.008333 × 1.008333^360] / [1.008333^360-1]

= [750000 × 0.008333 × 19.8350386989] / [19.8350386989 - 1]

= 123964/18.835

= 6581.58

Under this loan proposal, your mortgage payment will be $6581.58 per month.

4 0
3 years ago
Formal face-to-face meeting of leaders from different countries to discuss important issues
zhannawk [14.2K]
Good like fashioned meet and greet
8 0
3 years ago
Costs of insurance vary by state, risk profile and amount of coverage. Visit insurance company websites and find out how much ea
FinnZ [79.3K]

Answer:

Home owner’s insurance: most homeowners insurance policies provide a minimum of $100,000 worth of liability insurance. The costs for such a policy would be $500 deductible.

Medical Insurance: For a four person household with a family income of $75,000 in Virginia would be approximately $600 a month. This would not include supplementary insurance.

Automobile insurance: To insure to cars up to $50,000 in damages each, would cost $1,200 a year, paid every 6 months. This assuming that only 2 people in the household have driver’s licenses.

Explanation:

This was the sample answer given

6 0
3 years ago
Read 2 more answers
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