You're thinking of withdrawing all your fun $45,000 from your 401k age 54 the normal tax rate for you would be 20% the rules of withdrawing funds before the age of 59 and a half is the temperature in penalty how much would you save if you waited until age 59 and a half

Answers

Answer 1

Answer:

The age 59½ distribution rule says any 401k participant may begin to withdraw money from his or her plan after reaching the age of 59½ without having to pay a 10 percent early withdrawal penalty.

Explanation:

Answer 2

Until the age of 59.5 years, the amount saved from the withdrawal of funds is $3,600.

What is a tax?

A tax is an obligatory payment made by the taxpayer to the government in respect of the income earned in the previous year.

Given values:

Amount of funds: $45,000

Normal tax rate: 20%

Penalty rate at 59.5 years: 10%

Step-1 Computation of after-tax amount paid at 54 years:

[tex]\rm\ After \rm\ Tax \rm\ Amount \rm\ at \rm\ 54 \rm\ years =\rm\ Amount \rm\ of \rm\ funds \times (\rm\ 1-\rm\ Tax \rm\ Rate)\\\rm\ After \rm\ Tax \rm\ Amount=\$45,000 \times\ (1-0.20)\\\rm\ After \rm\ Tax \rm\ Amount=\$36,000[/tex]

Step-2 Computation of after-tax amount paid at 59.5 years:

[tex]\rm\ After \rm\ Tax \rm\ Amount \rm\ at \rm\ 59.5 \rm\ years =\rm\ Amount \rm\ of \rm\ Funds \times (\rm\ 1-\rm\ Tax \rm\ Rate)\times\ (1-\rm\ Penalty \rm\ Rate) \\\rm\ After \rm\ Tax \rm\ Amount=\$45,000 \times\ (1-0.20)\times\ (1-0.10)\\\rm\ After \rm\ Tax \rm\ Amount=\$32,400[/tex]

Step-3 Computation of the amount saved :

[tex]\rm\ Amount \rm\ Saved = \rm\ After \rm\ Tax \rm\ Amount \rm\ at \rm\ 59.5 \rm\ years - \rm\ After \rm\ Tax \rm\ Amount \rm\ at \rm\ 54 \rm\ years\\\rm\ Amount \rm\ Saved =\$36,000-\$32,400\\\rm\ Amount \rm\ Saved =\$3,600[/tex]

Therefore, the amount of $3,600 was saved with the amount of $36,000 paid at 54 years and the amount of $32,400 paid at 59.5 years.

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Related Questions

which of the following career fields ensures that required supplies are available?
A.) Logistics B.) Purchasing C.) Management D.) Marketing communications

Answers

Answer:

D.marketing communication

Why is it a good idea to know your net worth

Answers

Answer:

Knowing your net worth is important because it can help you identify areas where you spend too much money. Just because you can afford something doesn't mean you have to buy it. To keep debt from accumulating unnecessarily, consider if something is a need or a want before you make a purchase.

Explanation:ig so...

Knowing your net worth is important because it can help you identify areas where you spend too much money. Just because you can afford something doesn't mean you have to buy it. To keep debt from accumulating unnecessarily, consider if something is a need or a want before you make a purchase.

In a market there is a shortage of a good. What change would cause the market to come to an equilibrium?

A) a decrease in supply
B )a fall in price
C) an increase in demand
D) a rise in price

Answers

Answer:

D) a rise in price

Explanation:

At the equilibrium point, the quantity demanded and the quantity supplied are the same. There is no excess shortage or supply in both demand and supply.

A shortage occurs when suppliers are not able to meet the market demand. Here, demand is the quantity that buyers are willing to buys at a specific price over time.  As per the law of demand, high product price causes demand to decrease while low price results in increased demand.

A shortage of a product means its demand is high. Many buyers are willing to buy the commodity at the current price.  As per the law of demand, a price increase will result in reduced demand and achieve equilibrium.

Locating close to suppliers reduces these cost

Answers

Locating close to the raw material supplies can reduce where raw materials are heavy and large quantities are used up in production costs. This is particularly true for industries like steel, which uses large quantities of iron ore in the production process.

Perform online research to find a car you would like to have. Find out how much it would cost to lease the vehicle, and how much it would cost to own it. In about 500 words, explain how you will decide whether to lease or purchase the car. Any car of your choice.

Answers

Answer: 2022 Tesla Model 3 Standard Sedan

Explanation:

The price of a lease for a Tesla varies according to their type and model. For the sake of comparison of each Tesla model below, each of the pricing options is a result of the following terms: 36-month lease, 12,000 miles per year. For the two newer models (3 and Y), we will pay the minimum $4,500 down payment. For the veteran models (X and S), we will use the minimum required $7,500 down payment. Meanwhile, simply purchasing the vehicle could cost anywhere from $50k to $80k. 

Personally, after reviewing the two prices as well as considering any other possible fees and costs, I would most likely lease a Tesla due to its cost being much lower. 

The method of determaining what a business will get in exchange for its products
A. pricing
B. supplies
C. Command
D, market

Answers

Answer:

A. pricing

Explanation:

Pricing entails determining the value to attach to a product. It is the process through which a business decides how much customers will pay for its products. A business must consider the production costs and the desired margins when setting a price.

Price plays a crucial role in the success of a product and the business.  A high price has higher profit margins but may put-off some customers. A low price may attract demand but may lead to losses. Sometimes, low prices are associated with a poor quality product.

If you were able to do any job in the world, if it required schooling you succeeded, and nothing was stopping you from having this job. What would you chose? Why? What attracted you to this job?

Answers

Answer:

Something in the Air Force

Explanation:

why... ahh because i am serving my country and get to choke people out cuh my stepmom wont let me choke out my sister and

why am i attracted cuh i am

do this one you owe if this is ur homework its not that hard  

MORE FREE PINTS! IT'S CLEARANCE SALE!! FLAG QUESTION WHEN YOU'RE DONE!!!

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Answer:

✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️✔️

i dont know but good luck

Answers

Answer:where’s the question?

Explanation:

Which of the following is an example of a situation where a duty of care
exists?
O A. A property owner in relation to a trespasser of whose presence the
owner is unaware
B. A factory where an employee ignores warning signs to enter a
dangerous area without permission
O C. An airport where an individual has fled from security on foot and
entered the airstrip
D. A daycare employee with a child whose parents are late to pick
him up

Answers

Answer:

D. A daycare employee with a child whose parents are late to pick him up

Explanation:

In the product flow, what type of flow happens when customers return or reject goods?

Reverse flow
bad product flow
value flow
none of the above

Answers

Answer:

reverse flow

Explanation:

I believe it’s reverse flow

Art teacher Monica earns time and a half for the number of hours she works over 40 hours. One week she worked 48 hours. How many hours of overtime did she work?

Answers

Answer:

8 hours

Explanation:

Here, we want to know the number of overtime hours worked.

From the question, we are told that the pay is slightly different and higher if she worked for some hours over 40 hours

What this means is that the regular number of hours is 40; then the number of hours in this case 8 over 40 is her over time

The HR department at Clearwater Electronics received a report of a work-related injury on the production line that resulted in the employee missing several days of work. Supposedly, the employee hurt his back while lifting a box of components. However, another employee reported that the employee was not really hurt and just wanted some days off. It is the responsibility of the HR department to process workers' compensation claims and make sure the claim is not fraudulent. Which statement gives the best reason for HR to ensure that the claim is legitimate?

Answers

Answer: Fraudulent workers' compensation claims can lead to higher insurance premiums and penalties, so it is important for HR to protect the company and avoid costly mistakes.

Explanation:

With regards to the scenario in the question, the statement that gives the best best reason for the Human Resource to make sure that the claim is legitimate is because the activities of workers that are fraudulent can lead to the increase in both the insurance premium and penalties.

Therefore, every claim.has to be verified and seen to be legitimate. The HR must therefore protect the company and make sure that costly mistakes are avoided.

Which group once represented 35 percent of the labor force, but today, __________ represent only about 11.1 percent of the labor force, and are consequentially, much less powerful in influencing economic policy?

Answers

Answer:

"Labor unions" seems to be the right approach.

Explanation:

Labor unions, therefore, have a substantial effect on jobs, corporations, and as well as the political system. This seems to be a worker association done to negotiate with the workplace in addition to performance management, such as claims, labor issues, compensation, minimum wages, service time, as well as other job security.

Recruiting new employees via the Internet allows companies to _________.
a.
Reach candidates from across the world
b.
Conduct recruiting sessions from the office
c.
Gather résumés and cover letters paperlessly
d.
All of the above

Answers

I had this question and the answer was b: conduct recruiting sessions from th office.

Answer:

answer is b on edge 2020

Explanation:

Community colleges and vocational schools offer programs in maintenance and repair.

Answers

Answer:

yes, yes they do

Explanation:

On June 30, 2009, Sage Company issued 12% bonds with a par value of $750,000 due in 20 years. They were issued at 98 and were callable at 104 at any date after June 30, 2017. Because of lower interest rates and a significant change in the company’s credit rating, it was decided to call the entire issue on June 30, 2018, and to issue new bonds. New 8% bonds were sold in the amount of $1,020,000 at 101; they mature in 20 years. Sage Company uses straight-line amortization. Interest payment dates are December 31 and June 30.


(a) Prepare journal entries to record the redemption of the old issue and the sale of the new issue on June 30, 2018.

(b) Prepare the entry required on December 31, 2018, to record the payment of the first 6 months’ interest and the amortization of premium on the bonds.

Answers

Answer:

(a) Prepare journal entries to record the redemption of the old issue and the sale of the new issue on June 30, 2018.

the discount on bonds payable = $750,000 x 2% = $15,000

amortization per coupon = $15,000 / 40 coupons = $375

By June 30, 2018, $375 x 18 = $6,750 of the discount were already amortized. The carrying value of the bonds = $750,000 - ($15,000 - $6,750) = $741,750

loss on redemption of the bonds = redemption value - carrying value = $780,000 - $741,750 = $38,250

Journal entry to record redemption of bonds:

June 30, 2018, bonds redeemed at a loss

Dr Bonds payable 750,000

Dr Loss on redemption of bonds 38,250

    Cr Cash 780,000

    Cr Discount on bonds payable 8,250

Journal entry to record new issuance of bonds:

June 30, 2018, bonds issued at a premium

Dr Cash 1,030,200

    Cr Bonds payable 1,020,000

    Cr Premium on bonds payable 10,200

(b) Prepare the entry required on December 31, 2018, to record the payment of the first 6 months’ interest and the amortization of premium on the bonds.

amortization of premium per coupon = $10,200 / 40 = $255

December 31, 2018

Dr Interest expense 40,545

Dr Premium on bonds payable 255

    Cr Cash 40,800

Florence deposited ₱ 14,800 in a bank that gives 4.35% simple interest. after 2years 4months, she went back to the bank to check her balance. how much was available in her account?​

Answers

Answer:

₱ 16,300.054

Explanation:

The formula for calculating simple interest is as below.

I= p x r x t

In this case, p= 14,800, r = 4.35% and t is 2 years and 4 months

the interest rate is in years; we need to convert two years and four months to years.

=4 months = 4/12 of one year = 0.33

2 years 4 months = 2.33 year

I= 14,800 x 4.35/100 x 2.33

I= 14,800 x 0.0435 x 2.33

I=1,500.054

the amount in the bank will be principal plus interest

=14,800 + 1500

=16,300.054

Defamatory statements published on Internet bulletin boards, e-mails, and the like, are considered libel due to the somewhat permanent nature of the medium. This often is vital to a successful suit for defamation as damages are presumed to exist in the case of libel and do not have to be proven to the court.
The remaining question becomes who should be sued. This is the hard part. Sections of the Communications Decency Act of 1996 and several court
decisions provide protections to Internet service providers and bulletin board operators. Such parties generally are considered to be immune from suits
brought to make up for the harm done by such statements. However, they may be held liable if it can be shown that they exercised editorial or full control of
the material posted or transmitted or, at least, had knowledge of the specific defamatory contents. Such a showing has proven very difficult to accomplish.
Think about it
Why do you think it has been so difficult for people to win libel suits against Internet bulletin board operators or Internet service providers?

Answers

Answer:

Sorry i can not answer it...

Name one potential danger of choosing a career based solely on salary and earnings potential.

Answers

Answer:

too much pressure and stress

one is going to work under pressure as the workload will be increasing mainly because the salary will be high and that will also lead to stress

One potential danger of choosing a career based solely on salary and earnings potential is poor health and depression.

What is a Career?

A career is referred to what an individual chooses as a profession to earn something. A career of an individual is based on his talents, skills, and abilities which help him to seek growth and development and achive the goals of life.

A career should be based on individual interest rather than based solely on salary and earnings potential. As salary does not give the satisfaction of work and provides stress and pressure while working.

A career based on interest provides satisfaction and lack of pressure and good mental well-being whereas earnings potential will lead to stress and poor health which lead to many health problems.

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hows life people and are u failing

Answers

Answer:

terrible and no i am not failing

Explanation:

someone go check out my recent question i need help asap

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