1
vote
1answer
53 views

How can I check if my mortgage balance is correct?

Since I couldn't easily get my unpaid principal balance, I calculated my mortgage balance using a handful of online calculators. Today I took a look at the actual balance, and was rather surprised to ...
3
votes
1answer
112 views

How to determine withholding so at end of the year I neither owe more, nor get a refund?

A while back I was on a W2 job and I would get a large sum on my tax return. At one point I found a calculator that helped me figure out how to configure my W4 so that I would neither owe nor be owed ...
1
vote
2answers
74 views

Suppose earning an APR of 7% for 5 years, with interest compounded quarterly. What is the EAR? What is the Total Return?

Suppose you earn an APR of 7% for 5 years, with interest compounded quarterly. What is your EAR? What is your Total Return? The part I am confused is "with interest compounded quarterly" The ...
1
vote
1answer
36 views

When performing wash sale calculations does time of day matter?

For wash sales, I've read there is a 30-day window both before and after an opening trade during which a loss from a closing trade becomes a wash sale with respect to the opening trade's cost basis ...
3
votes
1answer
121 views

IRS returns more money than my calculation - how can I find out where I was wrong?

A couple of months ago I filed the 2012 tax returns. I was expecting a few thousands USD for a refund. Finally, the payment was received in my bank account, and I noticed that the actual refund was ...
1
vote
2answers
254 views

How to calculate Social Security benefits if retiring before the early Social Security age?

How can I calculate my Social Security if I retire before my early Social Security age? I tried to use the official website's calculator, but it required entering too much data, and the website ...
2
votes
2answers
99 views

Method for calculating the wisest amount of liability to purchase for car & home insurance?

I've seen the advice to get enough liability insurance as you have in total assets, i.e. if your owned home, owned car & savings = $100,000, then get $100,000 liability coverage. What is the ...
2
votes
1answer
506 views

How to determine the final value of a U.S. Savings Bond at maturity?

Is it possible to determine the "final" value of a U.S. Savings Bond on its maturity date? The interest rate is fixed, the compounding periods are known (semi-annually for EE bonds), and the term is ...
2
votes
3answers
158 views

What is the optimal way to calculate tax: apply tax to each item, then sum the prices, or sum the prices, then apply tax? When are prices rounded?

What is the optimal way to calculate tax? Lets say tax is 7.5% or 0.075. $2.32 X 1.075 = 2.494 --> Rounded: $2.50 You can say that item is $2.50 (tax included) and if you have two items: ...
5
votes
1answer
103 views

Comparing pre-tax versus post-tax health expenses?

I understand the concepts from this question and everything I have read says that the benefit of pre-tax expenses are that they reduce your taxable income. But to keep the math simple, let's say ...
10
votes
1answer
3k views

“Out of Pocket Maximum” and health insurance plan terminology & calculation?

I'm trying to understand the terminology on my health plan. I've read numerous websites, which have only confused me more, as they fail to use examples (more than one should be required) for people ...
7
votes
4answers
282 views

How do you go about calculating how much you need after retirement?

I am posting this question after reading this article on WSJ, where it says: Just 42% of working-age Americans have even tried to calculate what they will need in retirement, according to the ...
2
votes
1answer
131 views

How to calculate outstanding Graduate Plus Loan balance currently in deferment?

Can someone tell me what I'm doing wrong here? If I have a $56,500 loan and the interest rate is 7.9% how much will I owe after 8 months? I thought this would be fairly simple. I would ...
7
votes
1answer
12k views

How to determine contractor hourly rate and employee salary equivalents?

I am aware of the general differences between being an employee and being an independent contractor. However, I am unable to easily compare the two when it comes to after-tax compensation. Company ...
8
votes
3answers
1k views

Buying a more expensive house as a tax shelter (larger interest deduction)?

I've heard that some people buy a more expensive house as a tax shelter. In my simple mind I imaging the scenario: Pay 10,000 annual interest on the mortgage 50,000 annual income = 40,000 ...
5
votes
2answers
309 views

Is there a dollar amount that, when adding Massachusetts Sales Tax, precisely equals $200?

I am confused about calculating Massachusetts Sales Tax (6.25%). Is there such an amount, that when added to its sales tax, equals $200? The reason I ask is because my business has been charging ...
5
votes
2answers
334 views

Calculating savings from mortgage interest deduction vs. standard deduction?

I've read just about anything I can find on comparing cash-flow between owning a house versus renting. One new thing popped into my head yesterday, and I can't shake the feeling that it's an obvious ...
4
votes
0answers
175 views

How to file/calculate a plain Net Operating Loss (NOL)? [closed]

Does anyone have a clear set of instructions for filling a plain vanilla NOL? It seems awfully complicated. Is using the actual loss sufficient for the IRS?
2
votes
4answers
1k views

How can I calculate how much tax I will pay

I'm a consultant thinking of taking a full time salary job. I live in WA state and have a family. How can I calculate how much tax (federal, social security, medicare) I will pay? I've used ...
4
votes
1answer
158 views

If you owe tax, how does the IRS failure-to-file penalty work?

If you owe tax, how does the IRS failure-to-file penalty work?
8
votes
3answers
690 views

How to determine new, lower interest payments after a lump sum mortgage payment, i.e. new amortization schedule?

Here's a financial math problem: I have a mortgage at about $78,0000 with 5.5% interest and 56 of 360 monthly payments were made. I'm currently paying about $360/month in interest charges. If I pay ...