Diksh and Nadia are 78 years old and are married. Nadia has $7000 in AS income, $50,000 in dividends, and $30,000 in RPP pension income. Diksh has only OAS of $7,000. If the couple uses pension splitting, what is Diksh's optimum income level?
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Diksh and Nadia are 78 years old and are married. Nadia has $7000 in AS income,
$50,000 in dividends, and $30,000 in RPP pension income. Diksh has only OAS of
$7,000.
If the couple uses pension splitting, what is Diksh's optimum income level?
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- Barry and Mary know that pension sharing can result in tax savings. Both are 65 years old and have been married for 35 years. Both have contributed to the Quebec Pension Plan (QPP) since age 18. Mary is a doctor and made more money than Barry over the years. Mary's QPP pension is $1,208/month while Barry's is $790/month. As a result of pension sharing, what will be Barry and Mary's monthly QPP benefit for tax reporting purposes? A Mary's QPP benefit has been reduced from $1,208 to $900 and Barry's benefit has also decreased from $790 to $482. B C Mary's QPP benefit has been reduced from $1,208 to $790 and Barry's benefit has increased from $790 to $890. Mary's QPP benefit has been decreased from $1,208 to $900 and Barry's benefit has increased $790 to $1,098. D Mary's QPP benefit has been reduced from $1,208 to $790 and Barry's benefit has increased from $790 to $1,208. E Mary's QPP benefit has been reduced from $1,208 to $1,052 and Barry's benefit has increased from $790 to $946.Barry and Mary know that pension sharing can result in tax savings. Both are 65 years old and have been married for 35 years. Both have contributed to the Quebec Pension Plan (QPP) since age 18. Mary is a doctor and made more money than Barry over the years. Mary's QPP pension is $1,208/month while Barry's is $790/month. As a result of pension sharing, what will be Barry and Mary's monthly QPP benefit for tax reporting purposes? A Mary's QPP benefit has been reduced from $1,208 to $900 and Barry's benefit has also decreased from $790 to $482. В Mary's QPP benefit has been reduced from $1,208 to $790 and Barry's benefit has increased from $790 to $890. Mary's QPP benefit has been decreased from $1,208 to $900 and Barry's benefit has increased $790 to $1,098. Mary's QPP benefit has been reduced from $1,208 to $790 and Barry's benefit has increased from $790 to $1,208. Mary's QPP benefit has been reduced from $1,208 to $1,052 and Barry's benefit has increased from $790 to $946.Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2022, their AGI is $213,000. Jackson and Ashley each earned half of the income. How much can Ashley contribute to her Roth IRA if they file a joint return?
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