A marketing executive earns an annual salary of $78,300 and she contributes $6500 per year to her 401 (k) plan. if she has a required deduction for income taxes (federal state and local combined) of 27% of income how much is withheld in income taxes per year

a - 19,386

b-21,114

c-22,896

d-17,550

Question

Mathematics

Rhys

26 February, 17:04

A marketing executive earns an annual salary of $78,300 and she contributes $6500 per year to her 401 (k) plan. if she has a required deduction for income taxes (federal state and local combined) of 27% of income how much is withheld in income taxes per year

a - 19,386

b-21,114

c-22,896

d-17,550

+2

Answers (1)

Know the Answer?

Branden Irwin · Answer 1

With the assumption being made that the 401-k deductions are pre-tax deductions your calculation is as follows:

78,300 - 6,500 = 71,800 (this is your new taxable value)

71,800 * 0.27 = 19,386 (This is the amount that will be withheld in income taxes per year.

Your answer is A.

A marketing executive earns an annual salary of $78,300 and she contributes $6500 per year to her 401 (k) plan. if she has a required deduction for income taxes (federal state and local combined) of 27% of income how much is withheld in income taxes per yeara - 19,386b-21,114c-22,896d-17,550