xplains why Tim does or does not have enough money to pay $200 each month on his credit card. If he does have enough, give him some advice as to whether or not paying $200 each month on his credit card is a good idea. If he does not have enough, give him so

Individual Income Taxes
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ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter6: Deductions And Losses: In General
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that explains why Tim does or does not have enough money to pay $200 each month on his credit card. If he does have enough, give him some advice as to whether or not paying $200 each month on his credit card is a good idea. If he does not have enough, give him some advice about what he should do instead. Assume all of his taxes And expenses are as listed in #1-3, and assume that he is 20 years old and is wanting to retire at age 65.

 

Tim will pay 5,812.5 for federal taxes

2,544.8 is the amount Tim takes

home each month.

Total monthly expenses= $2,15

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