Case_Study_Cash_Flow_Statement___Template final

Case_Study_Cash_Flow_Statement___Template final - Cash Flow...

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011fb02abd5969ca12fd755fcde5ff7dcaba40e6.xls Cash Flow Analysis Current Proposed Retirement Survivo Income and Expense Items Monthly Annual Annual Annual John Income: Salary - Client 7,000 84,000 84,000 0 0 Salary - Spouse 11,000 132,000 132,000 0 0 Other Income 0 0 0 0 0 Total Gross Income 18,000 216,000 216,000 0 0 Payroll Deductions: FICA/Medicare 1,199 14,385 14,385 0 0 Retirement Plan Contributions - John (5%) 350 4,200 15,500 0 15,000 Retirement Plan Contributions - Jane (8%) 880 10,560 15,500 0 0 Health Insurance - Before Tax 116 1,394 1,394 1,394 1,394 Group Dental - John 22 258 258 0 258 Group Life Employee Coverage - Jane 81 971 971 0 0 Group Life Spouse Coverage - Jane 22 262 262 0 0 Group Life Child Coverage - Jane 2 24 24 0 0 Group Accident Employee Coverage - Jane 6 76 76 0 0 Parking Fees - Jane 16 188 188 0 0 Total Payroll Deductions 2,693 32,318 48,558 1,394 16,652 Income Tax Liability: Federal Income Tax (16%) 2,880 34,560 31,962 0 11,632 New York State Income Tax (6%) 1,080 12,960 11,986 0 4,362 Total Income Tax Liability 3,960 47,520 43,948 0 15,994 Expenses: Mortgage ($167,000, 5.8%, Paid off 2028) 1,144 13,730 14,100 0 14,100 Car Loan ($24,000, 7.3%, Paid off 11/2009) 723 8,671 8,671 0 8,671 Credit Card Debt ($11,200, 14.9%) 550 6,600 11,200 0 11,200 20 yr Term Life Insurance - John (2027) 16 192 970 0 970 20 yr Term Life Insurance - Jane (2027) 0 0 1,128 0 1,128 Disability Insurance - John 0 0 0 0 0 Disability Insurance - Jane 0 0 0 0 0 Long Term Care Insurance - John 0 0 1,815 1,815 1,815 Long Term Care Insurance - Jane 0 0 1,701 1,701 1,701 Real Estate Taxes (included in mortgage pmt.) 752 9,023 9,023 9,023 9,023 Homeowners Insurance (included in mortgage pmt.) 52 626 626 626 626 Automobile Insurance 117 1,404 1,404 1,404 1,404 Boaters Insurance 590 590 590 Umbrella Liability Insurance 0 0 270 270 270 Utilities - Gas, Electric, Water, Trash 466 5,592 5,592 5,592 5,592 Telephone 270 3,240
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This note was uploaded on 02/24/2008 for the course HADM 3325 taught by Professor Strebel during the Fall '07 term at Cornell University (Engineering School).

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Case_Study_Cash_Flow_Statement___Template final - Cash Flow...

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