This interactive exercise
is intended for illustration purposes only and should NOT
be interpreted as Tax or Legal advice. Before making any
changes to your lifestyle or employment circumstances you
should first consult with a tax or legal professional
1:
What is your current tax filing status?
2:
How do you currently get paid by your employer?
3:
How does your spouse currently get paid by their employer? (If applicable)
4:
Enter your gross income per pay period., before taxes are
taken out.
5:
Enter the gross income of your spouse per pay period.
(If applicable)
6:
Enter your "approximate" adjusted Gross Income from last
years Tax Return.
7:
Enter the number of employable dependents you have in your
household between the ages of 6 and 18.
8:
Enter the number of combined miles you and your spouse
drive on a weekly basis. You would be allowed to
deduct these miles @ $.55 per mile if you were conducting
business.
9:
Enter your monthly spending on non-reimbursed medical
expenses. (Co-pays, deductibles, dental, emergency etc.)
10:
Enter your monthly spending on all telecommunications
expenses (excluding basic service from the local telephone
company) i.e long distance, call waiting, voicemail,
internet access, DSL, cellular phones.
11:
Enter the amount you spend each year on travel related
expenses that could be considered a business expense in
future years.
12:
Enter your total monthly household expenditures on
entertainment & meal expenses.
13:
Please enter the amount of expected income from your home
business this year. Make this estimate as conservative as
possible.
