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Ms. Jost participates in her employers Section 401(k) plan, which obligates the employer to contribute 25 cents for every dollar that an employee elects to
Ms. Jost participates in her employers Section 401(k) plan, which obligates the employer to contribute 25 cents for every dollar that an employee elects to contribute to the plan. This year, Ms. Josts salary is $110,000, and she elects to contribute the maximum to her Section 401(k) account. Required:
How much of Ms. Josts salary is taxable this year?
Compute the total contribution to Ms. Josts plan.
Compute the employers deduction for compensation paid to Ms. Jost.
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