Marissa participates in her employers nonqualified deferred compensation plan. For 2014, she is deferring 10 percent of
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Marissa participates in her employer’s nonqualified deferred compensation plan. For 2014, 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 30 percent, how much tax does Marissa save in 2014 by deferring this income (ignore payroll taxes)?
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Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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