Answer:
When a taxpayer has an underpayment of estimated tax or fall behind on his/her tax prepayment, then he/she is required to pay a penalty on Form 2210. This penalty is called underpayment penalty.
According to the tax laws, Mr. P and Ms. S can avoid an underpayment penalty if their withholding's and estimated tax payments equal or exceed one of the following two safe harbors:
- 90 percent of current tax liability ($200,000 x 90% = $180,000)
- 110 percent of previous year tax liability (110% x $170,000 = $187,000)
From the above calculation, it is clear that Mr. P and Ms. S's withholding's ($175,000) do not equal or exceed the amount of two safe harbors. So, they need to increase their withholding's or make estimated payments to avoid underpayment penalty.
If Mr. P and Ms. S increase their withholding's by $5,000 or make estimated payments of $1,250
per quarter ($5000/4), they can avoid the underpayment penalty.
Mr. Paula and Simon average gross income is greater than $150,000, so 110% is taken.
Honesty
Loyalty
Cooperation
<span>responssibility
</span><span> ability to get along with others</span>
<u>Given:</u>
Loan amount = $250000
Interest rate = 5.5%
Interest payment = $2042.71
<u>To find:</u>
Total amount of interest
<u>Solution:</u>
The total number of months in 15 years = 
Total monthly payments will be 
So, the total pay-backs will be $3,67,687.8
Total interest paid will be as follows,
On plugging-in the values in the above formula we get,
Therefore, the total amount of interest that the borrower will pay over the course of the loan is $1,17,687.80.
It's called dividend. It's their share of the profit
Answer:
0.259
Explanation:
difference in loan loss allowance in the year= 4.5-4.2= 0.3m
difference in non performing loans in the year= 6.2-5.8= 0.4m
Provision for loan loss= (difference in loan loss allowance + difference in non performing loans)/ net charge offs
provision for loan loss= (0.3+0.4)/2.7=0.259
