REAL ESTATE ASSIGNMENT
Leila@
edited_annual_budget.xlsxSheet1
| group 9 annual budget | |||||||||
| Item | value ($) | ||||||||
| Gross Annual Income | 84,000 | ||||||||
| less tax withholdings | |||||||||
| 15% federal tax | 12,600 | ||||||||
| 7% state of carlifornia | 5,880 | ||||||||
| 7.65% FICA | 6,426 | ||||||||
| total | 24,906 | ||||||||
| Net Income After Tax withholdings | 59094 | ||||||||
| less other employer deductions | |||||||||
| medical insurance premium | 1,000 | ||||||||
| dental and vision insuance premium | 900 | ||||||||
| union dues and parking permit | 550 | ||||||||
| retirement account | 800 | ||||||||
| health care dependant | 3000 | ||||||||
| Total | 6250 | ||||||||
| Net Pay-my check | 52844 | ||||||||
| pesonal expenses | |||||||||
| housing | 10000 | ||||||||
| food | 10000 | ||||||||
| transpotation | 3000 | ||||||||
| utilities 5% | 4200 | ||||||||
| clothing 5% | 4200 | ||||||||
| personal care | 1000 | ||||||||
| savings | 6000 | ||||||||
| total expenses | 38400 | ||||||||
| surplus | 14444 |
Sheet2
| Five Year Budget | |||||||||
| Annual Figures | Y1 | Y2 | Y3 | Y4 | Y5 | note | |||
| Income | $ 84,000 | $ 87,780 | $ 91,730 | $ 95,858 | $ 100,172 | 1. there was a 4.5% annual income increase over the five years | |||
| Tax Witholdings | $ (25,830) | $ (26,992) | $ (28,207) | $ (29,476) | $ (30,803) | 2.there was 2.1% upward adjustment of expenses due to inflation | |||
| Employer Deductions | $ (6,250) | $ (6,250) | $ (6,250) | $ (6,250) | $ (6,250) | 3.employer deductions never changed | |||
| Personal Expenses | $ (38,400) | $ (39,206) | $ (40,030) | $ (40,870) | $ (41,729) | ||||
| Total Deductions | $ (70,480) | $ (72,449) | $ (74,487) | $ (76,597) | $ (78,781) | Tax= | -30.75% | ||
| Surpluses | $ 13,520 | $ 15,331 | $ 17,243 | $ 19,261 | $ 21,390 | ||||
| Monthly averages | Y1 | Y2 | Y3 | Y4 | Y5 | ||||
| Income | $ 7,000 | $ 7,315 | $ 7,644 | $ 7,988 | $ 8,348 | ||||
| Tax Witholdings | $ (2,153) | $ (2,249) | $ (2,351) | $ (2,456) | $ (2,567) | ||||
| Employer Deductions | $ (521) | $ (521) | $ (521) | $ (521) | $ (521) | ||||
| Personal Expenses | $ (3,200) | $ (3,267) | $ (3,336) | $ (3,406) | $ (3,477) | ||||
| Total Deductions | $ (5,873.33) | $ (6,037.40) | $ (6,207.23) | $ (6,383.06) | $ (6,565.12) | ||||
| Surpluses | $ 1,127 | $ 1,278 | $ 1,437 | $ 1,605 | $ 1,783 | ||||
