0
Only when you do not qualify to deduct your contribution from your total income an pay have to pay the income in the year of the contribution then you would have a post tax contribution amount in your IRA account after income tax cost basis in your IRA account.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What effect do pretax salary reductions have on the federal income tax?
what effect do pretax salary reductions have on the federal income tax?
How do you find the tax rate if you have the pre tax and after tax profit?
After Tax Profit = Pretax Profit * (1 - Tax Rate) Solve for Tax Rate Tax Rate = 1 - (After Tax Profit/Pretax Profit)
What is post tax deduction?
Post tax deductions are deductions that are figured after taxes have already been taken out, such as a pay advance repayment. Pretax deductions are deducted from gross pay, then federal and state income taxes are determined on the net amount.
How do you calculate pretax net operating income?
How do you calculate pre-tax net operating income
What is the FICA tax liability status of pretax contributions to qualified deferred compensation arrangements?
They are subject to FICA tax like any other wages. However the employers' matching contributions are tax-free.
How do you solve rate of tax?
Find the dollar amount of the sales tax by subtracting the pretax price from the post-tax price.Divide the sales tax cost by the pretax price.Multiply the Step 2 answer by 100 to convert the sales tax rate from a decimal to a percentage.
What effect do pretax salary reductions have on the federal income tax?
what effect do pretax salary reductions have on the federal income tax?
How do you find the tax rate if you have the pre tax and after tax profit?
After Tax Profit = Pretax Profit * (1 - Tax Rate) Solve for Tax Rate Tax Rate = 1 - (After Tax Profit/Pretax Profit)
What is the purpose of IRAS Singapore?
The purpose of IRAS Singapore is to keep track of people's income tax. IRAS Singapore is the tax authority and they collect taxes and offer tax services to people.
What is post tax deduction?
Post tax deductions are deductions that are figured after taxes have already been taken out, such as a pay advance repayment. Pretax deductions are deducted from gross pay, then federal and state income taxes are determined on the net amount.
What is the purpose of IRA?
The purpose of IRAS Singapore is to keep track of people's income tax. IRAS Singapore is the tax authority and they collect taxes and offer tax services to people.
What is pretax charge?
The fees that need to be spent before the tax are collected to the governments.
What does 4 percent mean in sales tax?
Multiply the pretax price by 0.04
How much is 6.5 percent in sales tax?
Multiply the pretax price by 0.065.
Is pretax cost of equity higher or lower than after tax cost of equity?
they are equal
Can the creator of an irrevocable trust contribute pretax income without paying income tax?
No.
How do you calculate pretax net operating income?
How do you calculate pre-tax net operating income
