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36) An advantage of investing in a 401(k) plan is the A) Possibility of receiving an employer match on your conti B) Ability to invest
36) An advantage of investing in a 401(k) plan is the A) Possibility of receiving an employer match on your conti B) Ability to invest up to 25% of your annual income. C) Ability to pay taxes on distributions. D) Ability to withdraw contributions before age 55 withou E) Opportunity to save $25,000 per year. n on your contributions. re age 55 without penalty. 37) Janet is single and is completing her federal income taxe identified the amounts listed here. How much of these item er federal income taxes for the year. She has h of these items can she rightfully deduct? AGI: $42,000 Medical and dental expenses: $1,100 State income taxes: $1,000 Mortgage interest: $7,000 Charitable contributions: $1,250 A) $8,250 B) $9,250 E) $7,000 C) $10,350 D) $3,350 TRUE/FALSE. Mark "A" for true, "B" for false. 38) REFER BACK TO QUESTION 36: Janet has asked you for tax advice. After being assured that she's accurately listed all possible deductions, you will encourage her to "itemize" these rather than take the standard deduction. 36) An advantage of investing in a 401(k) plan is the A) Possibility of receiving an employer match on your con B) Ability to invest up to 25% of your annual income. C) Ability to pay taxes on distributions. D) Ability to withdraw contributions before age 55 withou E) Opportunity to save $25,000 per year. h on your contributions. pre age 55 without penalty. 37) Janet is single and is completing her federal income taxes for identified the amounts listed here. How much of these items al income taxes for the year. She has h of these items can she rightfully deduct? AGI: $42,000 Medical and dental expenses: $1,100 State income taxes: $1,000 Mortgage interest: $7,000 Charitable contributions: $1,250 A) $8,250 B) $9,250 E) $7,000 C) $10,350 D) $3,350
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