Business, 13.04.2021 01:00 CobyHageman

Alex works for a company with a 401(k) plan. He currently earns $80,000 in gross salary and contributes 8% of his gross salary into his 401(k) account. If his marginal tax rate is 33%, how much income tax liability is he saving by making tax deductible contributions to his 401(k)?

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Alex works for a company with a 401(k) plan. He currently earns $80,000 in gross salary and contribu...