If your tax liability is 25% of your salary of $40,000, a. For every $1 earned, how

Question:

If your tax liability is 25% of your salary of $40,000,

a. For every $1 earned, how much goes toward taxes?

b. How much of each $1 is take-home pay?

c. If you contribute $1,000 to your 401(k) and your employer matches $1,000, how much is added to your retirement that year?

d. How much did the $1,000 contribution to your 401(k) affect your take-home pay for the year?

e. What was your immediate ROI when you decided to contribute $1,000 to your 401(k)?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Personal Finance Building Your Future

ISBN: 978-0073530659

1st edition

Authors: Robert B. Walker, Kristy P. Walker

See More Books

Question Posted: Apr 18, 2018 09:49 AM

See More Questions

Multiple choice Questions 1. In a large food or beverage establishment, any tip shortfall from a directly tipped employee is recorded on the employees W-2 as a. W-2 box 1- Wages, tips, other...
Mini Golf Corporation is a fully owned foreign subsidiary of Fun Parks, Inc. Mini Golf operates in a foreign jurisdiction with a tax rate of 15%, whereas Fun Parks, Inc. is a U. S. corporation that...
Eloisa Corporation applies IFRS. Information about Eloisa Corporation's income before income tax of $633,000 for its year ended December 31, 2017 includes the following: 1. CCA reported on the 2017...
Posting the entries from the sales journal to the accounts receivable subsidiary ledger should be done ______. a). at the end of each month b). on a weekly basis c). on a daily basis d). only at the...
Aman, a sole proprietor and rental property owner, had the following expenses in 2016: Payment to tax lawyer for advice related to business tax liability......................$1,000 Property taxes...
Find the x-value of all points where the functions defined as follows have any relative extrema. Find the value(s) of any relative extrema. (x) = x 3 + 6x 2 + 9x - 8
Slick Co. had a Swiss franc receivable resulting from exports to Switzerland and a Mexican peso payable resulting from imports from Mexico. Slick recorded foreign exchange gains related to both its...
On December 31, 2014, Gibson Company has $18,200,000 of short-term debt in the form of notes payable to Blue Lagoon State Bank due in 2015. On January 28, 2015, Gibson enters into a refinancing...
1. On August 1, 2021, Real Estate Tycoon, Inc. purchased land and a building for $600,000 by signing a long-term note. The fair value of the land is estimated to be $100,000 and the fair value of the...
2. Discriminant Analysis a. Explain the discriminant analysis model, the independent variables, and the dependent variable, assumptions of the model, as well as the objectives b. Given the data, what...
You deposit $7,000 of your high school graduation gift money into a savings account. How much will it be worth when you graduate from med school in seven years if interest rates are: a. 3%? b. 5%? c....
You pick out a new car and the dealer is offering 0% interest for 60 months or a $4,000 cash-back bonus. Your negotiated price is $25,000. Your credit union is currently offering a special 3.5% for...
Construct a normal probability plot of the piston ring diameter data in Exercise 6-1. Does it seem reasonable to assume that piston ring diameter is normally distributed?
The waiting times between a subway departure schedule and the arrival of a passenger are uniformly distributed between 0 and 9 minutes. Find the probability that a randomly selected passenger has a...
Greenview Dairies produces a line of organic yogurts for sale at supermarkets and specialty markets in the Southeast. Economic conditions and changing tastes have resulted in slowing demand growth....
Rudy Gandolfi owns and operates Rudy's Furniture Emporium Inc. The balance sheet totals for assets, liabilities, and stockholders' equity at August 1, 2019, are as indicated. Described here are...
If you were team leader how would you break up this assignment for 4 people to complete? Group Case Analysis Parts 4, 5, and 6 IV. STRATEGY IMPLEMENTATION. (How are you going to do what you want to...
A genetic experiment with peas resulted in one sample of offspring that consisted of 440 green peas and 166 yellow peas. Construct a 90% confidence interval to estimate of the percentage of yellow...
Factor each polynomial. 27a 3 - 8b 3
Establish identity. cos( + k) = (-1)k cos , k any integer
Jana just found out that she is going to receive an end-of-year bonus of $40,000. She is in the 35 percent marginal tax bracket. Calculate her income tax on this bonus. Now assume that instead of...
After reading this chapter, it isn't surprising that you're becoming an investment wizard. With your newfound expertise, you purchase 100 shares of KSU Corporation for $37 per share. Over the next 12...
After reading this chapter, it isn't surprising that you're becoming an investment wizard. With your newfound expertise, you purchase 100 shares of KSU Corporation for $37 per share. Over the next 12...
Physical Units Method, Relative Sales Value Method Farleigh Petroleum, Inc., is a small company that acquires high - grade crude oil from low - volume production wells owned by individuals and small...
A proposed $2.5 M investment in new equipment at a 100 MG/y M&Ms factory will save the plant $800,000/y in energy costs. Assuming an annual interest rate of 5%/y (compounded annually), and an...
Brief Exercise 10-7 Coronado Company obtained land by issuing 2,250 shares of its $14 par value common stock. The land was recently appraised at $103,240. The common stock is actively traded at $44...

If your tax liability is 25% of your salary of $40,000, a. For every $1 earned, how

Question:

Step by Step Answer:

a 100 x 025 025 b 100 025 075 c 1000 1000 2000 d Tax sa...View the full answer

Personal Finance Building Your Future

Students also viewed these Business questions