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Solution Library
Preparation of Family Tax Planning And Giving Them Recommendations
Question
Husband (A50) Salary: $90,000
Wife (A48) Salary: $95,000
Child 1 (A17) Student
Child 2 (A10) Student
Husband 401k 10% of income
Wife
Mortgage $200,000 at 6%
Child Care Expense $5,000
Disability Insurance $2,500
Health Insurance $6,000
Charity Contributions $3,000
Goals:
- College Savings
- Retirement
What is their current tax situation?
What would you recommend?
Total Word Count 460
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