How much of these funds may Jimmy withdraw tax-free

Assignment Help Accounting Basics
Reference no: EM132673268

Problem - Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. The account is now worth $112,000. How much of these funds may Jimmy withdraw tax-free?

Reference no: EM132673268

Questions Cloud

What amount may Carri and Dane Contribute to regular IRAs : Their total AGI in 2019 is $196,000, and they earn salaries of $87,000 and $95,000, respectively. What amount may Carri and Dane Contribute to regular IRAs
Prepare a t-account for work in process inventory to show : Cool Balm produces a lip balm used, Prepare a T-account for Work in Process Inventory to show activity during June, including the June 30 balance.
Difference between low and remote inclusion : Do a bit of research into File Inclusion Vulnerability. What is the difference between low and remote inclusion? Why is it dangerous?
What amount must Dana include in her gross income : In 2019, she converts her traditional IRA into a Roth IRA. What amount must Dana include in her gross income for 2019
How much of these funds may Jimmy withdraw tax-free : Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. How much of these funds may Jimmy withdraw tax-free
How about fairly lenient-applying m-m model : Throughout the chapter, you have reviewed various examples of B2B and B2C stores where 1-1, 1-M, and M-M relationships are portrayed
What is the maximum contribution to their IRAs : Abby, age 29, has earned income of $25,000, and her husband, Sam, has earned income of $2,600. What is the maximum contribution to their IRAs
Discuss the best practices of gathering information : Briefly discuss the best practices of gathering information. This type of valuation is used to value asset-intensive businesses such as retail
Good Data Visualization is Trustworthy : Explains that data visualizations have very few universal rules. Good Data Visualization is Trustworthy. Good Data Visualization is Accessible

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd