Sociology Notes Feb. 17th

Sociology Notes Feb. 17th - Tuition payments, fee payments,...

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2/17/10 Economics – Sociology Notes Taxes 1040 - Standard Individual Income Form If married, can combine income and pay 1 tax Progressive tax system - higher income, higher % of taxes Some income exempt from taxes Deduct moving costs, tuition, etc Itemized Deductions Charitable Donations, Mortgage Interest - has to be more than $5,700 W2 form - How much you earned and how much taxes withheld 1098 - Records educational expenses, every college you attended
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Unformatted text preview: Tuition payments, fee payments, stipends and scholarships 1099 - Stocks - dividends, interest, capital gain distribution Monthly Budget Monthly Check 1190.22 Annual Income 10711.98 Monthly Allowance 892.67 Mandatory Savings 297.55 Rent and Utilities 350 Phone Bill 40 Car Insurance 120 Debt Repayment 0 Discretionary Spending 382.67...
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