Raul and Jenna Are Married and Are Both Working

question 97

Essay

Raul and Jenna are married and are both working.They are both over age 50.Jenna participates in her employer's Sec.401(k)plan and makes the maximum contribution and enjoys a company matching contribution.Raul's employer does not maintain a retirement plan so he would like to save as much as possible in a tax-advantaged manner for retirement.They expect to report $187,000 of AGI for 2015.
a.What is the maximum amount that Raul can contribute to a traditional IRA and how much can he deduct?
b.What is the maximum amount that Raul can contribute to a Roth IRA and how much can he deduct?
c.How could Raul contribute to both the traditional IRA and Roth IRA to maximize current and future tax savings?

Understand the impact of power on psychological states and decision-making processes.

Recognize the traits associated with successful leadership.

Comprehend the concept of power in interpersonal relationships and its consequences.

Understand the characteristics and outcomes of high-power and low-power individuals in social dynamics.

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Definitions:

School-Based Physical Education

A curriculum dedicated to developing physical fitness and promoting healthy lifestyles among students through physical activities and sports taught in schools.

Cardiovascular Benefits

Positive effects on the heart and blood vessels, typically resulting from regular exercise, healthy diet, and avoidance of harmful behaviors.

Cognitive Benefits

The positive effects on the brain's function, including improved memory, attention, and problem-solving capabilities, often resulting from engaging in physical, social, or mental challenges.

Types of Diabetes

Categories of diabetes, primarily including Type 1 (where the body does not produce insulin), Type 2 (characterized by insulin resistance), and gestational diabetes (occurring during pregnancy).