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Keith_Richards [23]
4 years ago
11

Increasing your 401k deduction will ________ your take-home pay and __________ your federal taxes in the current year.

Business
1 answer:
MArishka [77]4 years ago
4 0
Increasing your 401k deduction will  LOWER/DECREASE your take-home pay and LOWER/DECREASE your federal taxes in the current year.
401k is a specific amount of money that will be deducted from your initial pay so it could be allocated to your pension account.
When 401k deduction increased, it will take a bigger chunk on your salary, so your take-home pay will be reduced. The amount of 401k deduction is considered as pre-tax, so it would not be counted in federal tax.
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financial intermediaries

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Frank-Walter Steinmeier- president

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Mark Stan elects to receive his retirement benefit over 20 years at the rate of 2,000 per month beginning one month from now. Th
RSB [31]

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$419,253

Explanation:

we must find the present value of a growing annuity:

present value = [monthly payment / (i - g)] x [1 - [(1 + g)ⁿ x (1 + i)⁻ⁿ]

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3 years ago
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Always federal law will prevail over state law.

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3 years ago
Jorge purchased a copyright for use in his business in the current year. The purchase occurred on July 15th and the purchase pri
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$6,000

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The amortization amount for each month (Am) is given by  the total purchase price divided by the remaining life of the copyright.

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A=6*\$1,000 = \$6,000

7 0
3 years ago
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