10.6.1 - Professional fees: $750 Donations: $1,000 Expected...

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BASIC EXAMPLE PROBLEM Bob completed his engineering degree two years ago and is currently earning $50,000 this year. He is currently doing some personal financial planning and has identified the following additional revenue and items that will impact this year’s income taxes: Interest income: $2,000 RRSP contributions for this year: $3,000
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Unformatted text preview: Professional fees: $750 Donations: $1,000 Expected taxes paid this : $10,585 Bill estimated that his fixed expenses this year will be $30,000 and his variable expenses will be $8,000. (Expenditures that his income taxes are included in these expense estimates). QUESTION: How much excess cash will Bill generate this year?...
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This note was uploaded on 11/13/2011 for the course CIVE 2*** taught by Professor - during the Spring '11 term at Carleton CA.

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