solved PICK 1 for the Stan Burgermeister, 56 years old, works

PICK 1 for the Stan Burgermeister, 56 years old, works as a short-order cook in a local diner. Stan has an annual salary of $32,000. Stan’s employer recently set up a 401(k) plan. He may defer up to 15% of his gross salary each year, and his employer will make matching contributions up to 6% per year. This year, Stan agreed to the full 15% salary reduction. Stan also has a small IRA balance of $200,000 (from his previous employer plan that was rolled over) tied up in money market accounts and some publicly traded stock.Based on what you know about Stan, pick one of the following questions, change your subject line, and address the question in your post. Do not answer all of the questions. You may instead comment on your classmates’ posts or on my comments. How much will Stan contribute to the 401(k) plan? How much will his employer contribute as a matching contribution? What amount of compensation will Stan have to pay federal tax on this year? What is the formula? What amount will Stan have to pay in Social Security taxes? What is the formula? If Stan is married, can his nonworking spouse contribute to an IRA? If yes, what type? What IRC sections allow for this? What other retirement planning could Stan pursue? Think outside of the box2. 2. Thanks for these comments here. You have all done a good job with your opening choices here and what you responded. Do you think most taxpayers understand the tax savings when it comes to retirement contributions? Class?3. Thanks for these comments here and talking about the many different options that he can consider. There are limits so we need to be aware of those and make sure we don’t violate any of those. Do you think that there are downsides to an HSA? If so, what? Class?