Sung, age 60, has compensation of $72,000. The normal retire…
Sung, age 60, has compensation of $72,000. The normal retirement age for his 457(b) plan is age 62. Sung has unused deferrals totaling $30,000 as of the beginning of the year. How much can Sung defer into his 457(b) public plan for 2025?
Read DetailsB. Escuchar un párrafo: Un viaje inolvidable. After helping…
B. Escuchar un párrafo: Un viaje inolvidable. After helping Pam with her travel vocabulary, it inspires you to look into traveling to Colombia as well, so you decide to listen to a travel podcast. First, read the statements below. Then, based on what you hear, select whether each statement is Cierto (true) or Falso (false) from the dropdown menu. If the information is not mentioned, select No se menciona (not mentioned). (1 pt. each; 8 pts. total) MODELO: (You hear): David nunca viajó. (You read): Cierto | Falso | No se menciona (You select): Falso 1. David hizo su viaje en 2020. [1] 2. Otra recomendación es probar los platos tradicionales del país. [2] 3. David sugiere recorrer cada ciudad en bicicleta. [3] 4. David aconseja hacer una excursión al Cerro de Monserrate. [4] 5. En Barranquilla puedes asistir a uno de los carnavales más grandes del mundo. [5] 6. David prefiere visitar la capital más que la costa. [6] 7. David recomienda visitar Cartagena si quieres saber más sobre la historia. [7] 8. David dice que es una buena idea llevar mucho equipaje para estar bien preparado. [8]
Read DetailsShabana, turns 50 in December this year, earns $125,000 annu…
Shabana, turns 50 in December this year, earns $125,000 annually from ABC Incorporated. ABC, a non-electing large employer, sponsors a SIMPLE and matches all employee deferrals 100% up to a 3% contribution. Assuming Shabana defers the maximum to her SIMPLE, what is the total contribution to the account in 2025 including both employee and employer contributions?
Read DetailsWhich of the following people cannot make a deductible contr…
Which of the following people cannot make a deductible contribution to a traditional IRA for 2025? Person AGI Active Participant of Qualified Plan Marital Status 1 Elizabeth $60,000 Yes Married 2 Robert $54,000 Yes Single 3 Angele $270,000 No Single 4 Brenda $90,000 Yes Single
Read DetailsMr Fat Cat has decided to use the proceeds from the exercise…
Mr Fat Cat has decided to use the proceeds from the exercise of his SCAT stock appreciation rights (Snacks 4 Cats, Inc) to help fund the exercise of his NQSOs. Mr Fat Cat received these options on January 5, 2023, with an exercise price equal to the FMV at the date of the grant of $10. He then exercised the options on January 15, 2024, when the FMV of the stock was $50 and sold the stock on January 1, 2025 for $55. Which of the following statements are true? At the date of the grant, Mr Fat Cat will have ordinary income of $10. At the date of exercise, Mr Fat Cat will have a positive AMT adjustment of $40. At the date of sale, Mr Fat Cat will have short term capital gain of $5.
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