BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The primary sources of income for young people between 18 and 30 who are not living on a pension (retirement) or social security are?
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Profits from businesses they own.
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Dividends and interest from investments
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Rents
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Wages, Salaries, and Tips
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Explanation:
Detailed explanation-1: -Determine your retirement income sources Guaranteed Income (i.e. Social Security, Annuities) Pension plans (i.e., defined benefit plans) IRAs. Retirement savings, including 401(k), 403(b), and 457 plans.
Detailed explanation-2: -▪ Primary Income. ➢earnings arising from the provision of a factor of production: labor, Financial assets, land, and natural resources.
Detailed explanation-3: -The amount of pension is 50% of the emoluments or average emoluments whichever is beneficial. Minimum pension presently is Rs. 9000 per month. Maximum limit on pension is 50% of the highest pay in the Government of India (presently Rs. 1, 25, 000) per month. Pension is payable up to and including the date of death.
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