What is the tax savings if residence is aquired

Assignment Help Financial Management

Reference no: EM131959828

Jessica and Greg are married and file a joint return. They expect $380,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide aditional tax deductions of 76,000 for mortgage and real estate taxes

The marginal rate is ___% if the personal residence is not purchased and is ___ % if the personal residence is purchased

What is the tax savings if residence is aquired? (round to the nearest cent)

Tax without purchase of personal residence ____

Tax with purchase of personal residence _____

Tax savings ____

Reference no: EM131959828

Questions Cloud

Determine the what percentage the asset class will represent : Construct a weighted average for the investor's portfolio consisting of the four Classes of Assets, their weights in the portfolio , and annual returns earned.

What is google pay level : Compose a 2-3 page paper that addresses the exercise posed in "Your Turn - Google's Evolving Pay Strategy" beginning on page 291 of the Mikovich text.

Create the us experience and the us identity : In what ways does life narrative of Benito Cereno and Frederic Douglas solve the problem. How does this literature help create US experience and US identity?

Compute the future value in given year : Compute the future value in year 9 of a $3,600 deposit in year 1 and another $3,100 deposit at the end of year 5 using a 9 percent interest rate.

What is the tax savings if residence is aquired : Jessica and Greg are married and file a joint return. They expect $380,000 of taxable income in the next year and are considering whether to purchase.

Compute the cost of capital for the firm : Compute the cost of capital for the firm for the following: A bond that has a 1,000 par value (face value) and a contract or coupon interest rate.

How are ralph and jack alike and different : How are Ralph and Jack alike and different? How is each of them both an effective leader and an ineffective leader? What does each boy stand for?

Which is more relevant the pretax or aftertax cost of debt : The bond currently sells for 87 percent of its face value. The company's tax rate is 40 percent.

What is the 2009 cash flow to stockholders : In addition, you're told that the firm issued $7,600 in new equity during 2009 and redeemed $9,200 in outstanding long-term debt.

User Account

All Pages