Marissa participates in her employers nonqualified deferred compensation plan. For 2022, she is deferring 10 percent of
Question:
Marissa participates in her employer’s nonqualified deferred compensation plan. For 2022, 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 tax does Marissa save in 2022 by deferring this income (ignore payroll taxes)?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Thorough explanation The tax s...View the full answer
Answered By
Labindao Antoque
I graduated in 2018 with a Bachelor of Science degree in Psychology from Dalubhasaan ng Lungsod ng San Pablo. I tutored students in classes and out of classes. I use a variety of strategies to tutor students that include: lecture, discussions about the subject matter, problem solving examples using the principles of the subject matter being discussed in class , homework assignments that are directed towards reinforcing what we learn in class , and detailed practice problems help students to master a concept. I also do thorough research on Internet resources or textbooks so that I know what students need to learn in order to master what is being taught in class .
0 Reviews
10+ Question Solved
Related Book For 
Taxation Of Individuals And Business Entities 2023 Edition
ISBN: 9781265790295
14th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
Question Posted:
