Jessie has $4,000 in a bank account, $2,800 in a 401(k) plan at work, a car with a current value of $28,000, and a house that she purcahsed for $92,000 that has a current value of $118,000. The current balance of her home mortgage is $81,000, she has one credit card with a $3,000 balance, and a school loan with a balance of $6,000. What is Jessie's current net worth?
During the past year, Fritz spent $3,000 to take a cruise, bought stock costing $5,000 that by year-end had increased to $6,000, and paid off a credit card of $3,500. What was the net effect on Fritz's net worth of these transactions?
Allison expects her monthly cash inflow after taxes to be $3,000. She also has the following monthly expenses: Rent, $750; student loan payment, $200; utilities, $150; food, $300; recreation, $600; car expenses, $200; clothing, $150. What is Allison's net cash flow for the current month?
If you have a salary of $30,000, an IRA deduction of $2,000, a standard deduction of $4,400, and a FICA rate of 7.65 percent, how much did you pay in FICA this year?
Melanie, a homeowner, has mortgage interest of $3,000, real estate taxes of $1,500, and charitable of $500. According to her filing status, a standard deduction of $5,950 is allowed. How much should Melanie deduct on her tax return?