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A generic tag to understand the calculations in a specific case. Please give out a sample illustration and ask a specific question. Ideally should also be accompanied by specific subject tags like "credit-cards", "savings-account", "index-funds" etc.

2
votes
Even assuming you were reading the balance sheet correctly it means nothing. What banks mostly care about is cash flow. Do they have enough extra money to make the payments on whatever they borrow? …
answered Sep 11 '15 by Loren Pechtel
21
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There's one factor the previous posters apparently missed here: You say "self-employment tax"--in other words, at least some of that $16k is from self employment. In a normal employment situation th …
answered Apr 8 '15 by Loren Pechtel
7
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As mhoran_psprep pointed out your payment will be pretty low unless you get credit for your foreign work through some sort of treaty. There's a very important aspect to this, though, that would make …
answered Sep 12 '15 by Loren Pechtel