Matthew (48 at year-end) develops cutting-edge technology for SV Incorporated, located in Silicon Valley. In 2023, Matthew participates in SV's money purchase pension plan (a defined contribution plan) and in his company's 401(k) plan. Under the money purchase pension plan, SV contributes 15 percent of an employee's salary to a retirement account for the employee up to the amount limited by the tax law. Because it provides the money purchase pension plan, SV does not contribute to the employee's 401(k) plan. Matthew would like to maximize his contribution to his 401(k) account after SV's contribution to the money purchase plan. Problem 13-58 Part a (Algo) Assuming Matthew's annual salary is $392,000, Required: a-1. What amount will SV contribute to Matthew's money purchase plan? a-2. What can Matthew contribute to his 401(k) account in 2023? Complete this question by entering your answers in the tabs below.

Alicia has been working for JMM Corp. for 33 years. Alicia participates in JMM's defined benefit plan. Under the plan, for every year of service for JMM, she is to receive 2 percent of the average salary of her three highest consecutive calendar years of compensation from JMM. She retired on January 1, 2020. Before retirement, her annual salary was $645,000, $675,000, and $705,000 for 2017, 2018, and 2019. What is the maximum benefit Alicia can receive in 2020? Maximum benefit in 2020

[The following information applies to the questions displayed below.] Matthew (48 at year-end) develops cutting-edge technology for SV Inc., located in Silicon Valley. In 2021, Matthew participates in SV's money purchase pension plan (a defined contribution plan) and in his company's 401(k) plan. Under the money purchase pension plan, SV contributes 15 percent of an employee's salary to a retirement account for the employee up to the amount limited by the tax code. Because it provides the money purchase pension plan, SV does not contribute to the employee's 401(k) plan. Matthew would like to maximize his contribution to his 401(k) account after SV's contribution to the money purchase plan. (Leave no answers blank. Enter zero if applicable.) Problem 13-54 Part b (Algo) Assuming Matthew's annual salary is $273,000, b-1. What amount will SV contribute to Matthew's money purchase plan? b-2. What can Matthew contribute to his 401(k) account in 2021? Complete this question by entering your…

• Matthew is a 6th grade teacher at a public school. Matthew and Rebecca are married and choose to file Married Filing Jointly on their 2023 tax return. Matthew worked a total of 1,500 hours in 2023. During the school year, he spent $733 on unreimbursed classroom expenses. • Rebecca retired in 2020 and began receiving her pension on November 1st of that year. She explains that this is a joint and survivor annuity. She has already recovered $1, 259 of the cost of the plan. Matthew settled with his credit card company on an outstanding bill and brought the Form 1099 - C to the site. They aren't sure how it will impact their tax return for tax year 2023. The Monroes determined that they were solvent as of the date of the canceled debt. • Rebecca received $200 from Jury duty. Their daughter, Safari, is in her second year of college pursuing a bachelor's degree in Biochemistry at a qualified educational institution. She received a scholarship and the terms require that it be used to pay…