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Arturiano [62]
3 years ago
14

What is a good reason to contribute to a 401(k) retirement account?

Business
1 answer:
kykrilka [37]3 years ago
4 0

Answer:

The money in the 401(k) account is not taxed until withdrawn.

Explanation:

A 401 (k) can be defined as a type of compensation (savings) plan that is being sponsored by a business firm or company (employer) to avail its employees the opportunity to contribute into. As a company-sponsored and defined-contribution retirement savings plan, it offers tax advantages to the employees because it reduces their income tax for the particular year while taxing their withdrawals.

A good reason to contribute to a 401 (k) retirement account is that, the money in the 401 (k) account is not taxed until withdrawn. Thus, the money contributed by an employee to a 401 (k) will maintain its tax-deferred status until  he or she withdraws it.

For example, a 401 (k) would be the best retirement savings option for a 50-year old medical doctor whose employer offers a 5% contribution match.

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Hank earns $ 23.50 per hour with time-and-a-half for hours in excess of 40 per week. He worked 43 hours at his job during the fi
Serga [27]

Answer:

$746.77

Explanation:

Calculation to Determine​ Hank's net pay for the week

Gross Pay $1320.00

Straight Time Pay 940.00

(40 × $23.50.)

Overtime pay 105.75

[ (43-40)× $23.50 ×1.5)]

Less Federal Income tax (198.00)

(15% × $1320.00)

Less OASDI and Medicare (100.98)

(7.65% × $1320.00)

Net Pay $746.77

Therefore Hank's net pay for the week will be $746.77

4 0
3 years ago
Mariota Corp. just paid a dividend of $4.30 per share on its stock. The dividend growth rate is expected to be 3.2 forever and i
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Answer:

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4 0
3 years ago
Grievance procedures in nonunion firms: a. Usually have arbitration as its final step and permit the use of wildcat strikes amon
Mazyrski [523]

The correct option is C

<u>Explanation:</u>

Non-association complaint techniques fluctuate generally in their structure from casual open entryway arrangements to expound peer survey and assertion based methodology. The selection of these systems is driven by a scope of elements including association substation, suit shirking, and as a component of human asset techniques concentrated on advancing high responsibility from representatives.

Non-association complaint methods will, in general, be utilized less much of the time that their association partners, yet use levels fluctuate depending on the structure of the methodology with those joining non-administrative leaders displaying higher utilization levels.

Therefore, Option c is correct - Do not frequently have an employee's grievance decided by a third-party neutral.

4 0
3 years ago
GDP is the market value of: A. Resources (land, labor, capita, and entrepreneurship) in an economy in a given year B. All final
frutty [35]

Answer:

B) All final goods and services produced in an economy in a given year

Explanation:

That's the definition of GDP, gross domestic product. By virtue of the name, it's the total product (output) of a given economy. It's measured through the values of all final goods and services, so as to not count the same good or service twice.

3 0
3 years ago
The Style of leadership uses a hands-off approach,allowing the group to direct itself. Authoritarian. Democratic. Laissez-faire
natali 33 [55]

The correct answer is Laissez-faire.

Laissez faire is a style of leadership which uses hands-off approach by allowing the group to direct itself.

Laissez faire is termed as the economic system where there are free from intervention of government.

For example, tariffs, privileges, subsidies and regulations. It is a word which came from French to mean let it go.


8 0
3 years ago
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