Total tax savings for both employer and employee combined

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Reference no: EM13953963

A company pays salary of $75,000 to an employee. Both employer and employee contributes $7,500 each in qualified retirement plan for the employee. Marginal tax rates for employer and employee are 28% and 15% respectively. What is the total tax savings for both employer and employee combined?

Reference no: EM13953963

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Total tax savings for both employer and employee combined : A company pays salary of $75,000 to an employee. Both employer and employee contributes $7,500 each in qualified retirement plan for the employee. Marginal tax rates for employer and employee are 28% and 15% respectively. What is the total tax saving..

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