Describe how people can identify their federal tax

Question

For this assignment, you will prepare a PowerPoint presentation evaluating and explaining the 401(k) and Individual Retirement Accounts (IRAs) at a local community center, where you have been invited to speak. The audience will be a group of people who already work for companies that provide a 401(k) plan, so they are familiar with the basic concepts. The goal of the presentation is to explain to the audience the differences between the 401(k) and IRAs. Include the following:

Explain which account would earn more money for the investor: a traditional IRA or a Roth IRA. Support your statements with reasons and examples.

Describe how people can identify their federal tax brackets.

Use the following hypothetical questions/situations to explain the retirement plans in further detail.

If you were to invest $3,500 in traditional IRA and a Roth IRA, after making adjustments for possible tax deductions, what would your net

contributionbe for both the traditional and Roth IRA? Explain any differences your research shows.

Once the traditional IRA or Roth IRA is established, you decide to invest the proceeds in a mutual fund. Identify the type of mutual fund

you would select. Examples include stocks, bonds, or a balanced mutual fund. Using the Internet, research and select a specific mutual

fund that meets your desired risk tolerance. You can use examples of mutual fund companies such as Oppenheimer and Franklin

Templeton. Be sure to justify your selection.

Based on the average annual return on the mutual fund selected, you invest $3,500 for thirty years without withdrawing any of the

proceeds. How large would the balance be at the end of thirty years? Include your calculations in your presentation.

To avoid the process of probate, and ensure that the balance in this fund transfers upon death to a person of your choice, explain how

this account should be set up to ensure a prompt and direct transfer.

As an employee of an organization, you may have access to invest in a 401(k) plan. Explain what a 401(k) plan is as well as its benefits.

When one has the option to utilize a 401(k) from an employer, explain what restrictions are in place to limit 401(k) contribution?

Answer 1

For this task, you have to create a PowerPoint presentation assessing and describing the 401(k) and Individual Retirement Accounts (IRAs) at a local community center, in which you have been invited to speak. The listeners will be a group of people who already work for companies which give a 401(k) plan, thus they are well-known by means of the fundamental concepts. The aim of the presentation is to describe to the listener the differences between the 401(k) and IRAs. Comprise the given: 1) Describe which account would earn more money for the investor: a traditional IRA or a Roth IRA. Support your statements with basis and illustrations. 2) Illustrate how people can recognize their federal tax brackets. 3) If you were to invest $3,500 in traditional IRA and Roth IRA, after making adjustments for possible tax deductions, illustrate what would your total contribution be for both the traditional and Roth IRA?