All categories

3 years ago

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

Business

2 answers:

kipiarov [429]3 years ago

6 0

Answer:

C. A traditional 401(k) is tax deferred because the income earned isn’t taxed until the money is withdrawn.

Explanation:

PLATO

Inga [223]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A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.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:

There are two types of 401 k plans: traditional 401k and Roth 401k plans. The difference is the way there are taxed.

The traditional 401k plan is an employer-sponsored retirement scheme. The employer withholds the employee contributions and remits the funds to the employee's 401k savings account. The amount deducted as the employee contribution is not subject to taxation at that point. Contributions to 401k plans reduce the employee's taxable income.

The amounts saved in a 401k plan are invested and generate income. Employees are not expected to pay taxes on the income generated every financial period. All taxes are deferred until the time of withdrawal.

You might be interested in

A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year,

Sophie [7]

Answer:

The appropriate answer is "$22,305".

Explanation:

The given values are:

Estimated uncollectible,

= $22,750

Credit balance in allowance,

= $445

Now,

The bad debt expense will be:

= $Estimated \ uncollectible-Credit \ balance \ in \ allowance$

By substituting the values, we get

= $22750-445$

= $22305$ ($)

5 0

3 years ago

Momentous Occasions is a photography business that shoots videos at college parties. The freshman class pays $1,000 in advance

Viefleur [7K]

Answer:

a. Considering the $1,000 paid by the freshman class,

Revenue earned on April 2

Did the earnings occur on the same date the cash was received No

b. Considering the $4,100 paid by the sophomore class,

Revenue earned on April 2

Did the earnings occur on the same date the cash was received No

Explanation:

a. Considering the $1,000 paid by the freshman class, on what date was revenue earned? Did the earnings occur on the same date the cash was received?

Revenue According to IFRS 15 is earned when earnings occur on the same date the cash was received when Momentous Occasions (the entity) transferres goods or services to the customer ( freshman class)

Thus $1,000 paid by the freshman class on March 3 is a Deferred Revenue. Earnings did not occur on the same date the cash was received.

Revenue occured when Momentous Occasions (the entity) transferred goods or services to freashman class on April 2

b. Considering the $4,100 paid by the sophomore class, on what date was the revenue earned? Did the earnings occur on the same date cash received?

Revenue occured when Momentous Occasions (the entity) transferred goods or services to freashman class on April 2

The $4,100 paid by the sophomore class on February 28 is payment for services rendered by Momentous Occasions on party held on April 2.

Thus Earnings did not occur on the same date the cash was received.

5 0

3 years ago

Because of competitive pressures, some firms have used packaging and labeling practices that are questionable, misleading, decep

Flauer [41]

Because of competitive pressures, some firms have used packaging and labeling practices that are questionable, misleading, deceptive, and unethical. this is an example of issues related to Ethics in product strategy.

This is further explained below.

<h3>What is competitive pressure?</h3>

Generally, In most cases, the term "competitive pressure" refers to a circumstance in which a business is put under stress as a result of the presence of other businesses in its industry.

Typical examples of it may be found in all types of economies, with the exception of monopolistic economies.

The demand and supply dynamics of a certain market or sector are very important considerations for any business.

The concept of product ethics encompasses every aspect of a product, including the decisions made about its design and the use of technology.

Therefore, you should direct your development team to make judgments that are morally acceptable while they are creating and constructing the product.

It is important to discourage immoral activities such as the employment of dark patterns and to promote the use of technology that is peaceful.

In conclusion, Some businesses, in order to remain competitive in an increasingly cutthroat market, have resorted to dubious, misleading, dishonest, and immoral packaging and labeling tactics. This is an example of a problem that arises in product strategy that relates to ethics.

Read more about competitive pressure

brainly.com/question/15416905

#SPJ1

8 0

2 years ago

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. however, this

Lisa [10]

The answer is <span>c. what proportion of the bank's visa cardholders pay less than $15 in interest? as that is the best question.</span>

7 0

3 years ago

1. Standard Oil of Connecticut, Inc., sells home heating, cooling and security systems. Standard schedules installation and serv

Yuki888 [10]

Answer:

The installers and experts are self employed because;

Standard Oil of Connecticut, Inc has no influence over the work other than finishing the venture by a specific time and the installers and experts can pick the days wherein they need to work.
The installers and specialists are occupied with various business as the business is into deals and The installers and experts are into administration.
The work isn't done heavily influenced by business. Professionals and installers are not managed by Standard Oil of Connecticut, Inc and they don't assess their work.
The devices are not given by the business and the installers and experts utilize their own gear and instruments.
The installers and experts are utilized for a specific time-span till the fulfillment of the undertaking and are not utilized for long.
The strategy for installment is through a set rate for every venture and not by time-frame.
The installers and professionals are authorized and affirmed by the state and are having particular abilities which are not increased through the business.

Every one of these conditions fulfill the necessities of self employed entity as indicated by measures utilized by the courts and doesn't fulfill the standards of representative.

5 0

3 years ago