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Summary Your tax liability is 30 percent of your $60,000 salary, and Which is not one of the ad
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Your tax liability is 30 percent of you1Your tax liability is 30 percent of your $60,000 salary, and Which is not one of the advantages of 529 college savings plans? Question 5 options: 1) You pay no taxes on the account's earnings. 2) Anyone (your mom, dad, grandparents, uncles, aunts, etc.)...

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  • October 13, 2024
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  • 2024/2025
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Your tax liability is 30 percent of your $60,000 salary, and Which is not one of

the advantages of 529 college savings plans? Question 5 options: 1) You pay no

taxes on the account's earnings. 2) Anyone (your mom, dad, grandparents,

uncles, aunts, etc.) can contribute to the account and, in some state-sponsored

plans, the contribution is deductible from state taxes. 3) Even if you are

currently in college, you can contribute to a 529 plan, and the earnings won't be

taxed if they are used for qualified educational expenses. 4) Balances left over

after completing your education can be rolled over into a Roth IRA.you

contribute $4,000 to your 401(k) each year. If your employer matches $0.50 per

dollar contributed up to five percent of your salary, how much free money are

you getting this year by taking full advantage of the employer match?




Answer & Explanation


To solve the problem, we need to determine how much your employer will

contribute to your 401(k) based on their matching policy.


1. Calculate 5% of Your Salary:

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