Jonathan gets paid an annual gross salary of $72,000 at his job. He spends $4,000 a year
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Question:
Jonathan gets paid an annual gross salary of $72,000 at his job. He spends $4,000 a year due to a medical condition. Assuming he used an FSA account to pay his bills, answer the following (remember, he pays 17 percent in taxes).
a. Funds available if bills are paid post-tax: | |
b. Funds available if bills are paid pre-tax: | |
c. Total savings if bills are paid pre-tax: |
Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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