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Alexia Kaspersky is planning her tax strategies for the upcoming year. She is expecting an unusually large bonus next year, leading to a forecasted taxable
Alexia Kaspersky is planning her tax strategies for the upcoming year. She is expecting an unusually large bonus next year, leading to a forecasted taxable income of $88,200. However, she could maximize her contributions to a retirement account which would defer income to a later date. The most she can contribute to that account is $21,100. What is the difference in taxes due in the two scenarios (not contributing at all and contributing the most allowed)? Enter the tax benefit as a positive number. Refer to the table below. tax bracket $0 $5,000 tax rate 8% $5,000 $15,000 9% $15,000 $28,700 23% above $28,700 23%. How can i solve this on a BA 2 Plus?
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