.

Alex works for a company with a 401(k) plan. He currently earns $80,000 in gross salary and contributes 8% of his gross salary into his 401(k) account. If his marginal tax rate is 33%, how much income tax liability is he saving by participating in his 401(k)? Alex works for a company with a 401(k) plan. He currently earns $80,000 in gross salary and contributes 8% of his gross salary into his 401(k) account. If his marginal tax rate is 33%, how much income tax liability is he saving by participating in his 401(k)