PERSONAL FINANCE,TAX UPDATE (LL)
PERSONAL FINANCE,TAX UPDATE (LL)
13th Edition
ISBN: 9780357438855
Author: GARMAN
Publisher: CENGAGE L
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Chapter 4.1, Problem 2CC
Summary Introduction

To Explain: Marginal tax bracket and impact on taxpayer’s tax advantages contributions to their retirement plan.

Concept Introduction: Many persons invest in retirement plans to save the taxes. Generally, all retirement plans are tax-free at the time of maturity. Amount invested in retirement plans reduces the total taxable income of a person.

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