Question: Please answer both parts. Thank you. Problem 13-60 (LO 13-3) (Algo) Paris participates in her employer's nonqualified deferred compensation plan. For 2020, she is deferring

Please answer both parts. Thank you.
Problem 13-60 (LO 13-3) (Algo) Paris participates in her employer's nonqualified deferred compensation plan. For 2020, she is deferring 10 percent of her $380,000 annual salary. Assuming this is her only source of income and her marginal income tax rate is 32 percent, how much does deferring Paris's income save her employer (after taxes) in 2020? The marginal tax rate of her employer is 21 percent (ignore payroll taxes). Employer's after-tax savings Problem 13-59 (LO 13-3) (Algo) Marissa participates in her employer's nonqualified deferred compensation plan. For 2020, she is deferring 20 percent of her $435,000 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 2020 by deferring this income (ignore payroll taxes)? (Round your final answer to the nearest whole dollar amount.) Taxes saved
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