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Amber's employer, Lavender, Inc., has a § 401(k) plan that permits salary deferral elections by its employees. Amber's salary is $99,000, and her marginal tax rate is 24% and she is 42 years old. a. What is the maximum amount Amber can elect for salary deferral treatment for2019? $ b. If Amber elects salary deferral treatment for the above amount, how much can she save in taxes? Her tax liability for 2019 would be reduced by $ . c. What is the recommended amount that Amber should elect as salary deferral treatment for 2019? $ .
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Amber's employer, Lavender, Inc., has a § 401(k) plan that permits salary deferral elections by its...
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