Question
An employee has taxable income (before retirement contributions) of $75,000 in 2020 and pays a fixed income tax rate of 17% (consider only this tax).
An employee has taxable income (before retirement contributions) of $75,000 in 2020 and pays a fixed income tax rate of 17% (consider only this tax). If this employee contributes $3,000 to her traditional 401k in 2020, how much will she realize in tax savings?
| $750 | ||
| $510 | ||
| $0 | ||
| $300 |
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Lending Investments And The Financial Crisis
Authors: Elena Beccalli, Federica Poli
1st Edition
1349564982, 978-1349564989
