Which statement describes the effect of taxes on a traditional 401(k) retirement account?
A.
A traditional 401(k) is tax exempt because the income earned isn't taxed until the money is withdrawn.
B.
A traditional 401(k) is a taxable account because the income earned is taxed when it is contributed.
C.
A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.
D.
A traditional 401(k) is tax exempt because the income earned is never taxed.

Answers

Answer 1

Answer:

A traditional 401(k) is tax deferred because the income earned isn't taxed until the money is withdrawn.

Explanation:

A 401 k is a qualified tax-advantaged saving retirement plan. Usually, 401K  plans are employer-sponsored. Employee contributions to the 401 k plans are deducted from the payroll before taxes are calculated. It means the employee contribution is not taxed at the time it's withheld by the employer.

The amounts saved are invested in market securities such as shares and bonds. The tax due from earning from the investment is deferred to the time of withdrawal. The employee is not required to pay taxes on contributions and investments earning every financial year.


Related Questions

What’s the answer??

Answers

no, he can’t afford one

Answer:

yes, thanks for the points

Select the correct answer.
James has set the goal of achieving all "A"s during this year of school. Which term best describes this goal?
O A long-term goal.
OB. short-term goal
OC. self-goal
OD inner goal

Answers

Answer:

OB. short-term goal

Explanation:

One way of categorizing goals is by the time set to achieve them. Under this grouping, goals are either long-term goals or short -term goals.

Short-term goals are the goals set to be achieved within one year.  These goals can be accomplished within a day, one week, a few weeks, a month but not more than 12 months. James intends to score A'' this year. This goal is set to be achieved with one year; hence it is a short-term goal.

Long-term goals take one year and beyond to accomplish.

An entry with two or more debits or credits is called a

double journal entry
duplicate journal entry
compound journal entry
a mistake

Answers

Answer:

compound journal entry

Explanation:

The Double -entry is a bookkeeping technique where transactions are recorded in two or more accounts. Most transactions will affect two accounts. One of the accounts is debited, and the other one is credited. It is also possible to have both accounts debited or credited.

Some transactions may require more than two entries. These are the transactions that affect more than two accounts. For example, Goods sold on discounts or goods sold partially on credit and partially cash. The journal entries for such transactions are compound entries.

An entry with two or more debits or credits is called a compound journal entry.A compound journal entry refers to a type of accounting entry that involves multiple debits and/or credits.

In a compound journal entry, two or more accounts are affected simultaneously to record multiple transactions or adjustments.

These entries are used when a single transaction or event affects multiple accounts and requires multiple debits and/or credits to accurately reflect the financial impact. Compound journal entries are commonly used in complex transactions such as the issuance of stock for a combination of cash and non-cash assets, the acquisition of assets through a combination of cash and liabilities, or the allocation of costs among multiple departments or projects.

The compound journal entry format typically includes multiple debit and/or credit lines, each indicating the specific account, the amount, and a brief description of the transaction or adjustment being recorded. This helps ensure proper documentation and transparency in the accounting records.

Overall, compound journal entries are an essential tool in accounting to accurately capture complex transactions and provide a comprehensive view of the financial impact on multiple.

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what is the benefits of international bussiness to firms ?​

Answers

Answer:

Benefits to Firms

It helps in improving profits of the organizations by selling products in the nations where costs are high. It helps the organization in utilizing their surplus resources and increasing profitability of their activities. Also, it helps firms in enhancing their development prospects.

Explanation:

i just looked it up so hope it helps ;)

What the fraction of 0.10 ;)


Anyone live in ny (only answer if you live in ny)

Answers

Answer:

1/10 my dude ksfhdkdhb nskdjdhdk

Identify three likely affects of an increasing global population

Answers

Answer:

(1) effects of large families on child development, (2) educational problems, (3) lags in new technology, (4) increased inequities in agriculture, (5) unemployment and underemployment.

Explanation:

you can choose 3 from those.

Have $54,118.54 in brokerage account, and plan to deposit additional $3000 at the end of every future year until account totals $210,000. Expect to earn 10% annually on the account. How many years will it take to reach goal?

Answers

Answer:

11 years

Explanation:

PV= 54,118.54

FV= 210,000

I/Y= 10

PMT= 3000

N = ?

Number of years = N(Rate, -Pmt, -Pv, Fv)

Number of years = N(10, -3000, -54,118.54, 210,000)

Number of years = 10.9999949

Number of years = 11

What are the three basic functions of money ?

Answers

Answer: Money has three primary functions. It is a medium of exchange, a unit of account, and a store of value: Medium of Exchange: When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange.

The three basic functions of money are store of value, unit of account, and medium of exchange.

What is money?

The exchange of commodities and services is referred to as "money." The currency is the country's currency. Different countries use various currencies. Money is typically represented by paper notes and coins. When compared to the batter system, money is more convenient.

There are the three basic money functions such as medium of exchange to currency, it was the paper note into the monetary term. Money was the basic purpose of the buying and selling. It was the easily to the store and spend on as per the conveniently.

As a result, the significance of the three basic functions of money are the aforementioned.

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Ishmael has four potential jobs to consider, each with different salary offers. From highest to lowest, the salaries are: $58,500, $57,000, $56,000, and $53,000. Based on the information provided, what is the opportunity cost of Ishmael accepting the position that pays $56,000

Answers

Answer:

highest paying position

Explanation:

In the field of economic, "opportunity cost" may be defined as the loss of the potential gain from among the alternatives that were provided when one of the alternatives were chosen over the other alternatives. In other words, it is the loss of a benefit for a person who could have enjoyed if that person would have not taken the choice.

Opportunity cost helps to make decisions properly.

In the context, Ishmael has been offered four potential jobs  from highest salary to lowest salary. Based on this information, the opportunity cost of Ishmael  to accept the position which pays him $56,000 is the highest paying job.

After first obtaining a real estate sales license, said licensee must take how many DRE core three-hour approved continuing education courses in order to renew their license

Answers

Answer:

5

Explanation:

skipppy boop bom po part 2

Answers

PLSSS WHY HE LOOK LIKE THAT
BAHAHAHA I AM DEAD PLSSSSS it is 3:00 am and i am dying

A teacher who makes copies of a newspaper article to give to her students is protected under: Fair market value Trademark exemption laws Fair use exemption Copyright law

Answers

Answer:

the answer is the one with copyright laws

Explanation:

because the teacher is not staling the information but is using it to farther along kids education.

Corrine works in a doctor's office. Sometimes the office is slow with only a few clients. She always finds tasks to keep her busy, such as filing paperwork, straightening the lobby, and preparing billing information. What workplace habit is Corrine demonstrating?


initiative
problem solving
interpersonal skills
punctuality

Answers

This is an initiative working habit.

Type the correct answer in the box Spell all words correctly.
A company decides to diversity a product by creating a new product range, which stage of the its life cycle is the product most likely in2
A company decides to diversify a product by creating a new product range. It is most likely in the
_______stage

Answers

Answer:

maturity

Explanation:

Answer:

maturity

Explanation:

got it right

On late-night TV, you see an infomercial claiming that the price of the product has been slashed for a special offer and now includes a bonus sample size of something that is in adjunct to the product. This illustrates the _____ compliance technique.

Answers

The answer is that’s-not-all

Point A on the PPC represents what

Answers

Answer: The Production Possibilities Curve (PPC) is a model that captures scarcity and the opportunity costs of choices when faced with the possibility of producing two goods or services. Points on the interior of the PPC are inefficient, points on the PPC are efficient, and points beyond the PPC are unattainable.

she ripped my (finish the sentance)

Answers

Answer:

band-aid off my knee?

Explanation:

Answer:

duct-tape off of my mouth

Explanation:

Kiran owns a T-shirt shop in a beach community. For many years, he owned the only T-shirt shop in the area. Recently, several other T-shirt shops have opened next to Kiran’s shop. What is likely to happen?

Answers

Answer:

most likely kiran is going to go out of business

Explanation:

so he has to step up his products and have something that makes his stuff look outstanding like ads and he might want to have someone with a lot of fame to represent his brand

You have agreed to hire a new employee from England. Part of the hiring agreement is to pay for moving costs. If the agreement was 10% of their salary to cover costs of moving and they were hired at $65,000/year. If moving costs totaled $6,000, did the employee receive enough money to cover their moving costs

Answers

Answer:

Yes, the employee receives enough money to cover their moving costs.

Explanation:

The following are given in the question:

Annual salary = $65,000

Percentage of salary agreed to pay as moving costs = 10%

Total moving costs paid by the new employee = $6,000

From the above, we have:

Moving costs agreed by the employer to pay the new employee = Annual salary * Percentage of salary agreed to pay as moving costs = $65,000 * 10% = $6,500

Since the $6,500 moving costs agreed by the employer to pay the new employee is greater than the $6,000 total moving costs paid by the new employee, the employee therefore receives enough money to cover their moving costs.

Outsourcing is becoming more and more common, but it is a controversial idea in the United States. Why do you think this is such a highly contested idea? Do you think outsourcing is a good idea or a bad one? Explain the reasons for your answer.

Answers

Answer:

outsourcing is good for getting things made cheaper but it is also coming from another country which some people dont agree with especially with the virus. i think its a good idea because (if you are from the US) we are in a huge amount of debt, and so the cheaper the better.

Explanation:

today is the worst day ever.
my school has two options; you do work online or in person.
im on my period today and it hurts a LOT. this is the first time it hurts this bad that I can't even stand up. not to mention i also feel like vomiting.
i usually go to school in person. yes, ik about corona-virus. my mom doesn't care.
i told her if today i can stay home and shes angry, shes complaining about my studies and how my cousins are better than me. honestly i cant put up with this. what do i do?

Answers

Answer:

first you need to claim yourself first

love yourself drinking water will help you feel good and comfortable be cozy and listen to peaceful song

lots of love

Is this Claudia Conway?
Is Kellyanne (aka...your mom) holding you hostage?
Reply in Morse code if help is needed.

Which c of the four c’s of marketing associates withe the promotion element of the marketing mix

Answers

Answer:

Communication

Explanation:

In the four Ps of marketing, promotion is closely associated with communication in the 4c of marketing. Promotions are the activities a business undertakes to convince customers to buy a product. Communication is a more customer-oriented approach compared to a promotion, which can be manipulative.  

Communication involves creating an interaction between buyer and seller. The buyer seeks to form a relationship with the sellers and convince them to buy.

Why would it be a good idea to mix stocks and bonds in your investment portfolio?

Answers

Answer:

To have more variety and just more in general!

Explanation:

Hope this helps!

he avenues a business uses to reach customers, like a website, store, or advertising, defines which section of the Lean Canvas Business Model? A. channels B. product C. key metrics D. revenue

Answers

Answer:

A. channels

Explanation:

A Lean Canvas Business Model can be defined as a simple but fluid diagram contained in a single page document used for describing an entire business plan or business model at a glance.

The Lean Canvas Business Model was adopted and created by Ash Maurya from the Business Model Canvas of Alexander Osterwalder.

Basically, it is a business framework that is based on strategic informations such as business problems and solutions, competitive advantage and key metrics (indicators), cost, pricing, channels etc.

Hence, the avenues a business uses to reach customers, like a website, store, or advertising, defines the channels section of the Lean Canvas Business Model. Channels comprises of inbound and outbound channels. The inbound channel is a medium used for bringing in customers to your business such as blogs, websites, social media applications, white papers etc. Also, the outbound channel such as Ads, trade fair, calls, convention etc., leads the business to the entrepreneur's customers and potential buyers.

2.
Why do people run a business?​

Answers

Answer:

to make money

Explanation:

to make that bag fr fr >:)

Convenience goods and services are products that a consumer buys only after comparing value, price, quality and style from a variety of sellers. True

Answers

Answer:

False

Explanation:

The convenience product is the product i.e. inexpensive and need a minimum amount of effort while selecting and purchasing the products,

It involves the bread, soft drinks, etc

In this the consumer do not think whether to purchase or not it is already available at minimum cost

So the given statement is true


Which of the following is a factor in determining what laws and regulations
affect a particular business?
A. Date business was founded
B. Design of business logo
C. Business size
D. Business name

Answers

I think the answer is c because it affects how companies structure their business and where they decide to locate.

Please click on the ❤️. Thanks!

Answer:

C. Business size

Explanation:

According to the video, what tasks are commonly performed by Farmworkers instead of by machines? Select three
options
weeding
pruning
preparing soil
transplanting
planting
HELPPPPPPPPPPPPPPPP

Answers

Sorry, but what video ? I can look it up and try to help

the price of an item is usually high when the number of people wanting to buy it is​

Answers

Answer:

High

Explanation:

When the number of customer willing to buy increases, the demand for that product also rise. According to the law of supply and demand, an increase in demand without a subsequent increase in supply results in an increase in the buying price.

An increase in the number of buyers increases competition for the few available goods. Sellers will take advantage of high demand and increase prices to make more profits. Therefore, when there more people willing to buy a product, its price tends to increase.

What factor is usually agreed upon prior to the submission of a purchase order?
a schedule of future orders
number of products to be purchased
price of the products to be purchased
delivery method

Answers

Answer:

number of products to be purchased

Explanation:

A purchase order is prepared by a customer and addressed to a trader.  The document instructs the trader to supply the customer with the goods stated in the purchase order document.

Before a customer writes the purchase order, an agreement is made on the quantity to be ordered. The trader has to confirm that they have the required quantity in the stores, or it will be availed within a reasonable time.

The price is agreed at the quotation stage. The customer first sends an inquiry, which the customer responds to with a quotation.

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