Calculated Industries QUALIFIER PLUS IIx Betriebsanweisung PDF herunterladen (Seite 67)

66 — Q

UALIFIER

LUS

III

Estimated Income Tax Savings and “After-Tax” Payment

IMPORTANT NOTE:

This example

estimates

the annual tax savings

(including property tax and mortgage interest). It is important to

inform your clients to

consult a tax advisor

for an accurate income

tax deduction calculation for their particular tax situation.

Buyers in a 28% income tax bracket are looking to finance a

$150,000 mortgage for 30 years at 8% annual interest. If they will be

paying approximately $1,500 in annual property taxes and $250 in

annual property insurance, find their estimated annual tax savings

(or mortgage interest/property tax savings) and “after-tax” monthly

payment.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Term in years 3 0 T 30.00

Enter annual Interest 8 ˆ 8.00

Enter annual prop. Tax 1 5 0 0 t 1,500.00

Enter annual prop. Ins. 2 5 0 I 250.00

Enter Loan Amount 1 5 0 ) l 150,000.00

Find P&I Payment p “run” 1,100.65

Find PITI Payment p 1,246.48

Enter Tax bracket 2 8 s p 28.00

Find annual Income

Tax savings p 3,767.32

Find monthly Tax savings p 313.94

Find “after-tax” Payment p 932.54

— DO NOT CLEAR CALCULATOR —

If the above loan starts in July, find the “after-tax” payment.

STEPS KEYSTROKES DISPLAY

Set Mo. 1 Offset to July 7 s ) 7.00

Enter Tax bracket 2 8 s p 28.00

Find annual Tax savings p 1,887.16

Find monthly Tax savings p 314.53

Find "after-tax" Payment p 931.95

Return Mo. Offset to Jan. 1 s ) 1.00

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