Answer:
Calculate the tax consequence of withdrawal from retirement account.
T and L are 40 years old and decide to withdraw $2,100 from their IRA. They lie in a 35% marginal tax bracket.
Analysis
They are withdrawing some amount from their retirement fund. They have to pay the tax and penalty for early withdrawals from the retirement fund. The withdrawal amount is $2,100 so they have to pay tax on it. The tax rate will be 35% which is their marginal tax bracket.
Calculation of tax consequences if withdrawal amount is $2,100:
Ordinary income tax amount calculates by multiplying the withdrawal amount with the ordinary tax rate.
= $2100 × 35%
= $735
The withdrawal amount attracts the 10% penalty. So, the penalty amount is calculated as follows: Penalty on withdrawn funds calculates by multiplying the withdrawn funds with the percentage of penalty.
= $2100 × 10%
= $210
(NOTE: - T and L have to pay ordinary income tax along with the penalty on their withdrawal because they are withdrawing funds from their IRA before age 59.5.)
Total expenses include the tax amount and penalty charge on withdrawal amount. So, it is calculated as follows:
Total expenses =$735 + $210
Total expenses = $945
Conclusion
Therefore, T and L would incur a tax of $945 on their withdrawal. This $945 is the sum of income tax amount and penalty on withdrawal balance.
Answer:
The correct answer is text: new; music: new.
Explanation:
The aria is made up of a musical component that ends in a tonic note and whose second section will contrast with the previous one in relation to time, in the same way as the third section.
Seeing the staff, the Aryan is not reflected, but the phrase "da capo" appears from the beginning) this tells the singer that he will have to repeat the work from the beginning until he reaches the phrase. It is at this time that the interpreter reveals his vocal abilities. You can use all the ornaments, your vocal performance and score.
Answer: Nether Australia or Europe
Explanation:
Purchasing power parity is a notion that states that prices of the same or similar goods should have the same price across the world after adjusting for exchange rate differences.
If the price of a tall latte in the U.S. is $4,00, it should be the same price in Europe and Australia after exchange rate adjustments.
$4.00 in Euro is: $4.00 in Australian dollars is:
= 4 * 0.8 = 4 * 1.4
= €3.20 = $5.60
Purchasing power parity does not hold in wither countries because the prices of the lattes are not equal to the $4.00 in the U.S. after adjustments for exchange rates.
Answer:
One of the five characteristics of job enrichment is feedback, which means giving employees direct and clear information about their job performance.
Explanation:
In this question the inventory obsolescence reserve is a representation of a dependent variable.
<h3>What is a dependent variable?</h3>
This is a variable that is being studied. It is the variable that their effect is to be ascertained.
The dependent variable usually gets its effect from the independent variable in a research.
Read more on dependent variable here:
brainly.com/question/383055
