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# 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 REPAID BALANCE 1 2004 500,000.00 \$
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 REPAID BALANCE 1 2004 500,000.00 \$ 39,114.00 \$ 2 2005 39,114.00 \$
5 1. MORTGAGE AMORT TABLE ANNUAL PAYMENT NUMBER YEAR BALANCE PAYMENT 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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13.4.2 - \$ 39,114.00 \$ 29,453.16 9,660.84 \$ 481,225.16 \$ 6...

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