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Strategic asset allocation establishes a target allocation for a given asset class (such as 60% to common stocks) and then what? {Ans: And then rebalances the portfolio when necessary to maintain that target allocation.}Sally and Joe are married, filing jointly. Their combined AGI is $145,000. Sally and Joe are both active participants in their employers' plans. After making the maximum deductible IRA contributions, they wish to use the remaining available IRA contribution amounts for contributions to their Roth IRAs. How much will they contribute to their Roth IRAs? {Ans: $11,000 Both are phased out from making deductible IRA contributions since both are active. A Roth IRA is not affected by active status. Sally and Joe can make the full Roth contribution ($11,000) since their AGI is below the Roth phaseout threshold ($186,000).}How much tax exempt interest is included in SS? {Ans: ALL Tax-exempt interest is included in the computation of the taxation of SS benefits.}Married filing jointly and BOTH are active: What is the phase out range? What kind of deduction can be made if you're below the phase out range? What kind of deduction can be made if you're in the middle of the phase out