Hunter retired last year and will receive annuity payments for life from his employer's qualified retirement plan of $30,000 per year starting this year. During his years of employment, Hunter contributed $130,000 to the plan. Based on IRS tables, his life expectancy is 260 months. All of the contributions were on a pre-tax basis. This year, Hunter will include what amount in income?
A) $0
B) $6,000
C) $24,000
D) $30,000
D) $30,000
If amounts are contributed on a pre-tax basis, Hunter received a tax benefit when the contribution was made so all amounts are taxable.
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On January 1, 1998, Erika Greene purchased a single premium annuity for $15,000 that will pay her $5,000 every year for life beginning on January 1, 2018. Based on actuarial tables published by the IRS, her life expectancy multiple is 10.a.What is the amount to be excluded in Erika's income for 2018?b.What is the amount to be excluded in Erika's income for the year 2028?
What will be an ideal response?
Which of the following is a data flow that generally goes to government agencies?
A. attendance time records B. job time records C. payroll contribution notice D. payroll tax reports
The default format for a DATE column is ____________________
Fill in the blank(s) with correct word
As the only son, Eduardo's father expected to one day turn over management of the business to him despite Eduardo's protests that he wanted no part of it. Following graduation from college, Eduardo realized he did not want his father to let some outsider take over the business. Eduardo's commitment is based on:
A. family control. B. identification with the firm. C. binding social ties. D. emotional attachment. E. renewal of family bonds.