You are finishing your third year in business with $540,000 of gross income and $274,000 in deductions. Two years ago, you had a net loss of $95,000 and last year, you had a net loss of $70,000. Calculate your taxable income for this year.
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- You inherited $300,750 and invested it at 6.25% per year. How much could you withdraw at the beginning of each of the next 22 years?Calculate the paychecks below: 1. Bob is paid an annual salary of $50,000 and taxes are 20%. a. How much is his GROSS Monthly Pay? b. How much is withheld for taxes? c. What is his NET Monthly pay? 2 ManlZach depsoits a $38,000 one-time lump sum in an account with an APR of 7% that is compounded quarterly. What is the value of Zach's investment after 24 years?
- Four years ago, an investor purchased a five door-apartment for P5.5M. Income from rent exceeded maintenance and insurance cost by P480,000.00 per year. If the property is sold now for P7.55M with an 8.25% income tax charged from capital gain determine the after tax-rate of return realized on the investment.Ans: 14%Your company invested S 8,499 four years ago and this investement will become $ 16.364 after six years from now. What is the annual interest rate that the company earned on compound interest basis.Brian opened an RRSP account and deposited $3,300 into it. He then deposited $800 at the end of the 1st year and $625 at the end of the 2nd year, into the account. The RRSP was earning 3.20% compounded quarterly. a. What is the accumulated value of the investments at the end of the 2nd year? Round to the nearest cent b. What is the accumulated value of the investment at the end of 5 years? Round to the nearest cent
- Javier is currently paying $1 comma 5001,500 in interest on his credit cards annually. If, instead of paying interest, he saved this amount every year, how much would he accumulate in a tax-deferred account earning 1111 percent over 99, 1414, or 1919 years? Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the FVIFA table: LOADING... . Question content area bottom Part 1 If, instead of paying interest, this amount was saved every year in a tax-deferred account earning 1111% over 99 years, the amount accumulated would be $enter your response here. (Round to the nearest cent.)Suppose you are a manager for a certain company. You earn $50,000 per year and are in the 28% federal income tax bracket. Each year you contribute $5,500 tax free to your individual retirement account, IRA. The account earns 7% annual interest. In addition, the amount of tax that you save each year by making these "pre-tax" contributions is invested in a taxable aggressive growth mutual fund averaging 16%. a)How much tax do you save (in $) each year by making the retirement fund contributions? b)Using Table 12-1, much will the retirement fund be worth (in $) in 30 years? (Round your answer to the nearest cent.) c) Although the income from this investment is taxable each year, using Table 12-1, how much will the "tax savings" fund be worth (in $) in 30 years? (Round your answer to the nearest cent.)Three years ago, ZYX deposited $2,590 in an account that has earned and will earn 8.60 percent per year in compound interest. If CAB deposits $3,690 in an account in 2 years from today that earns simple interest, then how much simple interest per year must CAB earn to have the same amount of money in 6 years from today as ZYX will have in 6 years from today? Answer as an annual rate. 19.32% (plus or minus .05 percentage points) 11.87% (plus or minus .05 percentage points) 3.79% (plus or minus .05 percentage points) 2.52% (plus or minus .05 percentage points) None of the above is within .05 percentage points of the correct answer
