1. By going to Money Chimp, you can either invade your own notification or estimate a married cockney filing jointly that constitutes $62,000. In the textbox individuality of the assignment coalesce, proceedings what aggregate you used (either $62,000 or your taxable proceeds), the tax aggregate, "as a percentage of proceeds," and the tax connect. You must own 4 aggregate in your surrender.
2.Use Time Value of Money (financial calculator or Excel) to counter-argument the subjoined prompt:
I owe $5,000 in taxes. I own to constitute 12 monthly liquidations at 18%. Estimate what the monthly liquidation would be. Please constitute positive that you illusion your inputs and globular 2 decimal points.
3. In your balbutiation, you discovered that everyone has the non-interference to charm the test abatement or itemize their abatements. Assume someone (age 35) is married. Combined, they constitute $50,000, and own a stock on which they owe $100,000. They communicate 10% of their proceeds to benevolence, pay 6% attention on their mortgage (they own an attention-only mortgage and own made no highest reductions), and had $3,200 in medical expenses. Would they be amend off to use the test abatement or itemize? Read the notification in your notes and appear at the notification at http://www.bankrate.com/finance/taxes/standard-or-itemized-tax-deduction.aspx to run. Please assimilate the objective test abatement that they can subtract versus the itemizations that they can subtract from the communicaten notification. Whichever aggregate is eminent is the one that you would lack to use, as that gain inferior the tax aggregate.