Tagged Questions

5
votes
1answer
43 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 ...
6
votes
1answer
154 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
208 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
101 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 ...
5
votes
1answer
2k 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
889 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
227 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 ...
4
votes
2answers
139 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
157 views

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

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
614 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
142 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?
7
votes
2answers
413 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 ...