Marissa participates in her employers non-qualified deferred compensation plan. For 2018, she is deferring 10 percent of
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Marissa participates in her employer’s non-qualified deferred compensation plan. For 2018, 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 2018 by deferring this income (ignore payroll taxes)?
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10240 Because Marissa is not ...View the full answer
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Related Book For 
Taxation Of Individuals And Business Entities 2019 Edition
ISBN: 9781259918391
10th Edition
Authors: Brian C. Spilker, Benjamin C. Ayers, John Robinson, Edmund Outslay, Ronald G. Worsham, John A. Barrick, Connie Weaver
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