Calculate average tax-rate , Taxation

Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the ‘Pay Yourself Firstâ€TM scheme and has committed to save 10% of his after-tax income per year, he realizes that in some years he cannot as planned because he needs a minimum expenditure of $30,000 per year. His average tax-rate is 25% and his marginal tax-rate on interest income is 30%. He puts all his savings in a saving account that pays 2% interest. How much money will he have at the end of four years?


Posted Date: 3/26/2013 5:29:03 AM | Location : United States

Related Discussions:- Calculate average tax-rate , Assignment Help, Ask Question on Calculate average tax-rate , Get Answer, Expert's Help, Calculate average tax-rate Discussions

Write discussion on Calculate average tax-rate
Your posts are moderated
Related Questions
Temporary difference; future deductible amounts; taxable income given Lance Lawn Services reports warranty expense by estimating the amount that eventually will be paid to satis

Caroline is a 55-year-old Australian resident. She  is the chief marketing officer based in Sydney for XYZ Limited (XYZ), a public company listed on the Australian Securities Excha

Roberta Santos, age 41, is single and lives at 120 Sanborne Avenue, Springfield, IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced from her former husb

Independence Standard Board (ISB) - This is private sector standard-setting body governing the independence of AUDITORs from their public company clients. It came about from discus

During the current year, Denos Corporation incurred costs of $45,000 for leasehold improvements to its newly rented building. The lease was signed in the current year for an initia

Ken, a resident, is a handyman who contracts with people to do a variety of jobs including repairing fences, fixing household items and small painting jobs. As part of this work, K

The Madison Restaurant was formed a S corporation at the end of last year. Bob Buron, owns 60% of the stock, manages the restaurant. Ray Huges owns the remaining 40%

In relation to the CGT provisions, which of the following statements are correct? Explain your answer citing the relevant law. (a) When disposal of property (CGT event A1) is by

Ask qmanaging dicrete assignmentuestion #Minimum 100 words accepted#

At the beginning of 2010,Marquee Inc. has two assets in Class 10 . The balance in this class is $7,423. The cost of each asset in the class was $7,500. On June 30, 2011, one of the