Berkeley Realtors Berkeley Realtor - Barbara Hendrickson
Serving Buyers and Sellers in the Bay Area including Albany, Berkeley, El Cerrito, Kensington, Oakland, Rockridge, Piedmont and the surrounding San Francisco East Bay Area


BARBARA HENDRICKSON
DRE License #00780582
Barbara@JustSellMyHouse.com
Cell:510-708-3800







Just Sell My House
Art Work By Barbara


For Buyers...

The Home Buying Process... Who Pays What? | Checklist for Loan Application | Components of a Mortgage Payment | The Loan Process | Shopping For A Lender | Getting Pre-Approved | The Inspection Process | Physical Inspection | Calculating Tax Savings

Calculating Tax Savings

Loan Payment
      Loan Amount Principal $ ______________
      Interest Rate ______________%
      Amortization _______________years
      Payment $________________per month (1)

Deductible Expenses
      Monthly Interest --- Principal x Interest Rate/12 = $__________ (2)
      Property Taxes --- Rate x Purchase Price/12 = $__________(3)
Total Deductible Expenses --- (2+3) $__________(4)
Tax Rate (from chart below) __________%(5)
Tax Savings --- (4x5) $__________(6)
Calculate out of pocket housing expenses (after tax)
      Monthly Mortgage Payment (1 above) $__________(7)
      Property Taxes (3 above) $ __________(8)
      Insurance (estimate) _________(9)
Montly Payment (7+8+9) $__________
      subract tax savings (6 above) ($___________)
OUT OF POCKET MONTH HOUSING EXPENSES $ __________

This is an estimate only. Your actual tax savings may vary.

Income Tax Brackets
Taxable Joint Income Taxable Single Income Tax Rates Federal Tax Rates State Combine Effective Rate*
$43,851
to $54,874
  28.0% 6.0% 32.3%
$54,675
to $69,098
26,251 to 34,548 28.0% 8.0% 33.8%
$69,099
to $105,950
34,549 to 63,550 28.0% 9.3% 37.4%
$105,951
to $161,450
63,551 to 132,660 31.0% 9.3% 37.4%
$161,451
to $288,350
132.601 to 288,350 36.0% 9.3% 42.0%
Over $288,350 Over 288,350 39.6% 9.3% 45.2%
Note:
People below the 25% federal tax bracket generally do not benefit from tax-free investing.
* State taxes may be deductible on federal tax returns. Consult wiht your tax advisor.

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Barbara Hendrickson

Phone: 510-708-3800
Email: barbara@justsellmyhouse.com

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