13.4.2 - $ 39,114.00 $ 29,453.16 9,660.84 $ 481,225.16 $ 6...

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1 INCOME TAX PROBLEM BILL THE LANDLORD #3
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2 1. MORTGAGE AMORT TABLE MODEL PERIOD OPEN ANNUAL INTEREST PRINCIPAL ENDING NUMBER YEAR BALANCE PAYMENT .@ 6% REPAID BALANCE 1 2004 500,000.00 $
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3 1. MORTGAGE AMORT TABLE ANNUAL PAYMENT WHAT IS THE YEARLY PAYMENT ON A  MORTGAGE WITH THE FOLLOWING: PV = $500,000 n= 25 YRS I = 6% PVA n=25YRS, i=6%)  = 12.873 PV = A X IF APV A = PV/IF APV A= $500,000/ 12.783=  $39,114   
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4 1. MORTGAGE AMORT TABLE ANNUAL PAYMENT NUMBER YEAR BALANCE PAYMENT .@ 6% REPAID BALANCE 1 2004 500,000.00 $ 39,114.00 $ 2 2005 39,114.00 $
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5 1. MORTGAGE AMORT TABLE ANNUAL PAYMENT NUMBER YEAR BALANCE PAYMENT .@ 6% REPAID BALANCE 1 2004 500,000.00 $ 39,114.00 $ 30,000.00 9,114.00 $ 490,886.00 $ 2 2005 490,886.00
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Unformatted text preview: $ 39,114.00 $ 29,453.16 9,660.84 $ 481,225.16 $ 6 2. RENTAL INCOME LEASE REVENUE 45,000.00 $ INTEREST COSTS 29,453.16 $ MAINT & REPAIRS 8,000.00 $ TAX DEPRECIATION 20,000.00 $ RENTAL INCOME 12,453.16-$ 7 3. TAX CALCULATION TOTAL INCOME EMPLOYMENT INCOME 85,000.00 $ TAXABLE CAPITAL GAINS 10,000.00 $ INTEREST INCOME 5,000.00 $ RENTAL LOSS 12,453.16-$ 87,546.84 $ TOTAL DEDUCTIONS RRSP 16,500.00 $ PROFESSIONAL FEES 1,000.00 $ EMPLOYMENT EXPENSES 15,000.00 $ INTEREST EXPENSE 2,000.00 $ 34,500.00 $ TAXABLE INCOME 53,046.84 $ TAXES PAYABLE 21.17% 11,230.02 $ TAXES PAID 22,652.50 $ TAXES OWING (REFUND) 11,422.48-$...
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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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13.4.2 - $ 39,114.00 $ 29,453.16 9,660.84 $ 481,225.16 $ 6...

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