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TaxWatch: The tax credit that punishes
The Making Work Pay tax credit is causing some nasty surprises for some taxpayers who ended up with a withholding shortfall due to the credit.
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Question: what gross salary would be if I earn 58000 net?
I’m relocating to DC and I’ve been offered a job. The employer offer salaries as “net of income”. I’m not too familiar on how to calculate the gross. I need to calculate and perhaps negotiate my salary. The HR Business Partner said it would be 58,000 net or 60,000 depending on my situation.
Tax info :Married/claiming 2.I’ve used a net to gross calculator and it gave me 7ok or 75k. I don’t know if that is accurate.
Answer: Salaries are NEVER quoted net of tax because everyone’s tax situation is unique. Salaries are always quoted gross. If someone is telling you that you will be paid $x net of tax they are probably running a SCAM and should be avoided.
Intel wows the Street with best quarter ever
Investors might be jittery about the economy, but Intel doesn’t appear to be, reporting glowing results for the second quarter of its 2010 financial year. “Strong demand … helped Intel achieve the best quarter in the company’s 42-year history,” said Paul Otellini, the company’s president and CEO.
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I hate my job. Can I retire early?
Question: I’m 50 years old and absolutely hate my job. It’s stressful, requires long hours and I have a tough boss. So I’m wondering about early retirement.
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Gross Income Business
Question: What is the gross domestic product, net domestic product, and national income for the following?
Billions of Dollars
Consumption 400
Net Exports -20
Transfer Payments 20
Gross investment 100
Social Security Contributions 10
Government Purchases 120
Net Investment 50
Dividends 20
Indirect Business Tax 10
Corporate Income Tax 30
Personal Income Tax 60
Undistributed Corporate Profits 20Yes, I do have the approaches for solving them, but they have not got me anywhere. Any help in solving these is greatly appreciated. Been struggling with these for a while.
Answer: Expenditure approach:
GDP = C+Ig+G+NX = 400+100+120-20 = 600NDP = GDP-CC
CC = Ig-In = 100-50 = 50
NDP = 600-50 = 550NI = NDP-IBT = GDP-CC-IBT = 550-10 = 540
PI = NI-SSC-CIT-UCP+TP = 540-10-30-20+20 = 500
DI = PI-PIT = 500-60 = 440
Corporate profits = Div+UCP+CIT = 20+20+30 = 70
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WASHINGTON (AP) – Consumer spending rose in March by the largest amount in five months but the gains were financed out of savings, which fell to the lowest level in 18 months. A slight rise in incomes added to concerns that the recovery could weaken unless income growth increases more rapidly.
The Birthday Game = proof that Scientology is a business