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 So, the penalty amount is calculated as follows: Penalty on withdrawn funds calculates by multiplying the withdrawn funds with the percentage of penalty.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: c. the degree that businesses rely on each other for information and decision making.
Explanation:
Information Technology has enabled firms of all sizes and types to be able to access information that they need for themselves instead of having to rely on third-party providers that would provide data to them at a high cost.
This has enabled these businesses to rely less on other companies for decision making as well as become more efficient at it because they are able to use varied sources of information not just what they would have acquired from other companies.
Answer:
The answer is letter A.
Explanation:
Less than or equal to 0.1
Because:
Average proportion (P-bar)= 0.024
Observations (n)= 75
sd =√(P-bar)(1-(P-bar)/n
sd =√(0.024)(1-0.024)/75
sd= √(0.024)(0.976)/75
sd= √(0.023424)/75
sd= 0.01767
sd ≤ 0.1
Answer:
Because he is able to cover the variable cots, he should keep going in the short run. He must increase the number of walks to cover the fixed costs.
Explanation:
Giving the following information:
Kay walks dogs for $7.50 each. Her total cost each day is $45—she spends $35 a day on gas driving to different neighborhoods, and her liability insurance and other fixed costs average out to $10 per day.
Kay walks five dogs a day.
Income= 7.5*5= $37.5
Total cost= 45
Loss= (7.5)
Because he is able to cover the variable cots, he should keep going in the short run. He must increase the number of walks to cover the fixed costs.
The environmental protection agency was formed in 1970, Exchange in the immediate environment is this an example of Governmental bodies and the firm.
<h3>What was the goal of the 1970 Environmental Protection Act quizlet?</h3>
- This act's objective is to "promote productive and joyful harmony between man and his environment." In 1970, the Environmental Protection Agency (EPA) was established. The cleanup of toxic waste left behind from decades of unrestricted dumping was its primary focus.
- The Environmental Protection Agency's principal responsibility is to regulate environmental law. It was founded in 1970. They put in place programs to reduce pollution and protect the environment. Describe the federal rules and regulations in place to protect the environment from air pollution.
To learn more about Environmental Protection Agency refer,
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