John and Julie Waters are both employed. John is a credit analyst with City Bank and Julie
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John and Julie Waters are both employed. John is a credit analyst with City Bank and Julie is a speech therapist. Both work for employers that offer 401(k) plans. John will make $92,500 as a credit analyst and Sarah makes $102,500 as a speech therapist. Each can make a 5% contribution to their 401(k) and their employers make a matching contribution to their 401(k).\ \ If they elected not to contribute to their 401(k), what will be the amount of Federal income tax paid?
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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