Marissa participates in her employers nonqualified deferred compensation plan. For 2022, she is deferring 10 percent of

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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)?

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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

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