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3 years ago

How much can i spend on a house if i make 100k a year?

1 answer:

4 0

There is not one single correct answer to this question as it all depends on your other expenses like if you are having a car loan or any leftover education loan and other factors which affects your credit rating but to give you a general idea A traditional starting point is to shop for homes with a purchase price equal to two-and-a-half times your salary so about $250,000 Although $250,000 is a very realistic starting point, it may seem low to some people, especially those living in cities with higher home prices. Some experts suggest that you can afford a mortgage payment as high as 28% of your gross income. According to that estimation , annual salary of $100,000 can afford a monthly payment of about $2,300/month. That could translate to a $450,000 loan, assuming a 4.5% 30-year fixed rate. So check your other expenses and credit rating before deciding what you want and what you need.

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Patrick patrone (single, 2 allowances), $925 wages __________ carson leno (married, 4 allowances), $1,195 wages __________ carli

Furkat [3]

Solution and Explanation:

1) Patrick patrone

Single and 2 allowances $=\$ 925-\$ 155.80-\$ 155.80=\$ 613.40$

It falls under the category of Over $509 but under $1,631

The amount of income tax that he withholds is $36.70 + 12% of excess over $509

$\$ 36.70+12 \%(\$ 613.40-\$ 509)=\$ 36.70+12 \% \text { of } \$ 104.40=\$ 36.70+\$ 12.53=\$ 49.23$

The amount to withhold for Federal income tax is $49.23.

2) Carson Leno, married and 4 allowances

= $1,195 - $155.80 - $155.80 - $155.80 - $155.80 = $571.80

The wages falls under the category of Over $444 but under $1,177.

The amount of income tax that he withholds is $0 + 10% of excess over $444.

$\$ 0+10 \%(\$ 571.80-\$ 444)=\$ 0+10 \% \text { of } \$ 127.20=\$ 0+\$ 12.72=\$ 12.72$

The amount to withhold for Federal income tax is $12.72

3) Carli lintz single, zero allowances and wages is $700.

$700 - $0 = $700 (zero allowance)

The wages falls under the category of Over $509 but under $1631.

The amount of income tax to withhold is $36.70 + 12% of excess over $509

$\$ 36.70+12 \%(\$ 700-\$ 509)=\$ 36.70+12 \% \text { of } \$ 191 .=\$ 36.70+\$ 22.92=\$ 59.62$

The amount to withhold for Federal income tax is $59.62.

4) Gene hartz. Single, 1 allowance and $2,500 wages.

$2,500 - $155.80 = $2,348.20

The wages fall under the category of Over $1,631 but under $3,315

The amount of income tax to withhold is $171.34 + 22 % of excess of $1,631 $\begin{aligned}&\$ 171.34+22 \%(\$ 2348.20-\$ 1631)=\$ 171.34+22 \% \text { of } \$ 717.20 .=\$ 174.34+\$ 157.78=\\&\$ 332.12\end{aligned}$ The amount for Federal income tax is $332.12

5) Mollie Parmer. Married, 2 allowances and wages is $3,600

$\$ 3,600-\$ 155.80-\$ 155.80=\$ 3,288.40$

The wages falls under the category of Over $1,177 but under $3,421

The amount of income tax to withhold is $\$ 73.30+12 \%$ of excess over $\$ 1,177$ $\begin{aligned}&\$ 73.30+12 \% \text { of }(\$ 3,288.40-\$ 1,177) .=\$ 73.30+12 \% \text { of } \$ 2,111.40 .=\$ 73.30+\$ 253.37=\\&\$ 326.67\end{aligned}$ The amount for Federal income tax is $326.67.

NOTE : - the withholding allowance is deducted from the wages, the amount of single allowance is $155.80.

6 0

2 years ago

maxonik [38]

d. time period and b. internal factors

5 0

2 years ago

Read 2 more answers

A company wants to restrict access to sensitive data. Only those who have a "need to know" will have access to this data. Strong

Sergeeva-Olga [200]

Answer:

Password and U2F token

Explanation:

The password and the U2F token do not include user identification but are applied or used for two factors authentication

Here password could be for social websites like login to social websites. When login it asks for authentication for higher security so that the hacking could be minimized

The U2F refers to the universal two-factor authentication. It can be used through the USB, NFC, Bluetooth device

7 0

3 years ago

Courts will occasionally determine in a the course of a lawsuit against a corporation that the usual limited liability protectio

pishuonlain [190]

Answer: b. piercing the corporate veil.

Explanation:

Normally, corporations have limited liability which means that the assets of the shareholders are separate from that of the company and should the company go bankrupt for instance, the assets of the shareholders would be safe and only that of the company could be liquidated.

Sometimes however, the courts can remove this limited liability protection which would enable the assets of the shareholders to be targeted in what is known as "piercing the corporate veil".

There are several reasons this can happen for instance:

Fraud by the owners
Failure to follow formal corporate rules
Inadequate capitalization of the company
Use of company assets as private assets.

8 0

3 years ago

Blossom Company has the following transactions related to notes receivable during the last 2 months of 2019. The company does no

Sunny_sXe [5.5K]

Answer:

Nov 1 Notes Receivable-C Bohr 66000 Dr

Cash 66000 Cr

Dec 11 Notes Receivable-KR Pine 5400 Dr

Sales Revenue 5400 Cr

Dec 16 Notes Receivable-A Murdock 7200 Dr

Accounts Receivable 7200 Cr

Dec 31 Interest receivable 598 Dr

Interest Revenue 598 Cr

Explanation:

We need to calculate the interest accrued on all the notes. We will then add the interests on these notes and credit interest revenue by that amount and debit interest receivable.

Interest revenue on Note 1

Interest Revenue = 66000 * 0.05 * 2/12 = $550

Interest revenue on Note 2

Number of days interest is accrued for is 20 days (31-11=20)

Assuming a 360 day year.

Interest revenue = 5400 * 0.07 * 20/360 = $21

Interest revenue on Note 3

No of days interest is accrued for is 15 (31-16 = 15)

Assuming a 360 day year.

Interest revenue = 7200 * 0.09 * 15/360 = $27

Total Interest revenue = 550 + 21 + 27 = $598

5 0

3 years ago