After-tax basis to make this retirement plan contribution

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Reference no: EM131300225

Alfonso Venegas is an operations manager for a large manufacturer. He earned $68,500 in 2015 and plans to contribute the maximum allowed to the firm's 401K plan. Assuming that Alfonso is in the 25% tax bracket, calculate his taxable income and the amount of his tax savings. How much did it axtually cost Alfonso on an after-tax basis to make this retirement plan contribution?

Reference no: EM131300225

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After-tax basis to make this retirement plan contribution : Alfonso Venegas is an operations manager for a large manufacturer. He earned $68,500 in 2015 and plans to contribute the maximum allowed to the firm's 401K plan. Assuming that Alfonso is in the 25% tax bracket, calculate his taxable income and the am..

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