Answer:
$88,150
Explanation:
DINK method for insurance sums one half of all the debt plus funeral expenses. Thus,
Using DINK method
One half of mortgage, 140,000 = 70000
One half of car loan, 14000 = 7000
One half of personal debts, 4800 = 2400
One half of credit card loans, 3500 = 1750
Funeral expenses = 7000
Thus
Total insurance needed =
70000 + 7000 +2400 + 1750 + 7000
= $88,150
Note that, when using DINK method, what the spouse earn isn't used in calculating total insurance.
C) Design! Most definitely.
To do construction and architecture you need to know design. It will include design.
<span>Credit cannot be denied based on unrelated factors.</span>
Answer:
Net Income is $17,000
Explanation:
A sole proprietor is not taxed as a business entity but all the income and expenses should be reported on the income tax return. On schedule C all the details of profit and loss should be submitted with Form 1040.
Net profit calculation to report on Schedule C is as follow:
Net sales - $80,000
Cost of goods sold <u>($40,000)</u>
Gross Income $40,000
Operating expenses <u>($20,000)</u>
Operating Income $20,000
Employee payroll taxes <u>($3,000)</u>
Net Income <u> $17,000 </u>
