Paris participates in her employers nonqualified deferred compensation plan. For 2019, she is deferring 10 percent of
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Paris participates in her employer’s nonqualified deferred compensation plan. For 2019, she is deferring 10 percent of her $320,000 annual salary. Assuming this is her only source of income and her marginal income tax rate is 32 percent, how much does deferring Paris’s income save her employer (after taxes) in 2019? The marginal tax rate of her employer is 21 percent (ignore payroll taxes).
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Related Book For
McGraw Hills Essentials Of Federal Taxation 2020 Edition
ISBN: 9781260433128
11th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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