What percentage of your gross income should go towards rent?
No more than a third of your gross annual income should go towards housing. As for rent, you should not spent anymore than 25% of your gross income. Housing - This expense should include mortgage, insurance, gas, electricity, maintenance, and phone. (according to crown.org budget guide) Rent or your monthly mortgage payment plus each of the above should never exceed 36%. 1/3 is generally a good rule just as with the 1st answer, but don' t forget that the number includes the other housing expenses.
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Answer . There is a GRM (Gross Rent Multiplier) that compares the total rental/lease income to the value or price of the property.\n. \nThe price can run 8 to 10 times the gross income, but that can vary widely up or down based on market conditions, interest rates, management, building type and …quality, and many other factors.\n. \nCapitalization Rate (cap rate) is a more comprehensive way of evaluation, but if the GRM is known for a building type and location, you can quickly determine a ballpark value.. (MORE)
Answer . As cars almost always depreciate in value, especially in the first year, they are a horrible investment. So, rather than trying to determine a percentage of yearly salary to pay towards a car, you should try to do a couple of other things:\n. \n1) Do you need a car? Public transportati…on is affordable and helps combat global warming.\n. \n2) Find the least expensive car you can that will meet your needs. Consider buying used; if you buy a car that is two or three years old, it will still be under warranty but the original owner will have eaten most of the depreciation. You'll get a good car at a much better price than if you bought the car new. Don't get caught up in image--you should save money for retirement rather than spending excess money on a car (otherwise, you'll have to retire IN your expensive car).\n. \n3) If you can, save the full amount of the car before buying it. That makes the total cost cheaper.\n. \n4) If none of these options works for you, then you need to figure out how much you owe in an average year on your credit card bills, phone bills, utilities, etc. Then figure out what your car payment will be. If you add all of these together, the total amount of debt should be no more than 15% of your income. (MORE)
In almost all cases, this is your "total" (or gross) income, before taxes or other with-holdings. If you are paid hourly, this is your total hours worked x rate of pay. If you are on salary, it is your salary, rather than your actual take home pay.
\n . \nRule of thumb currently promoted is that you should never spend more than 1/3 of your gross income. 33.3%. But you should be aware that this is far higher than the historic average. Up until 20 years or so ago, the rule of thumb was 25%, and many critics point to this change as one reason …so many Americans are over-leveraged. . _________________________________________ . The change was made in 1999 under the direction of then President Clinton, the Gramm-Leach-Bliley Act was enacted and signed by Clinton. Prior to this act only 36% of your income could be leveraged by creditors, and only 28% by mortgagers. . Afterwards 33.3% could be mortgage debt and 42% total leverage. These relaxed standards and other parts of the act which allowed banks to diversify their loans and investments, and eliminated the 18% maximum interest rate, (put in place after the "stagflation" of the late 1970s) which led to run away credit and interest rates contributing to an overburdened banking and credit crisis, where debtors no longer were able to cover inflating interest rates, which could triple overnight without warning. . (MORE)
It depends on the business that the company is in. Manufacturers and retailers will have higher percentages of revenue in Cost of Goods Sold while service industries will have a higher percentage in salaries and benefits. A hospital will normally see between 32% and 40% of net patient revenue going …to salaries with another 18% to 25% to employee benefits. (MORE)
There is no exact percentage but it is recommended that around 10percent of your income be put toward health insurance. Most peopledo not spend this much on health insurance.
Most small businesses should allocate between 2 and 3 percent ofrevenue for advertising. That number should increase as thebusiness grows.
On average, almost 50% of workers actually don't pay any tax. So averages mean very little...and less when it involves taxable income. . It depends on many, many things...not the least of which is what you consider tax. Many people group all their withholdings as a type of tax, but many may not b…e. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax. Some vary not just by State, but by company...or job in the company. . The amount (or percentage) of income tax withheld also depends on many other things...obviously which state (or even city) your in (although that may be a surprisingly small variable), the amount of income your projected on earning over the year (because that helps determine your tax bracket and the percent that may be needed), as well as your filing status, number of dependents and other deductions. And other possible income. And some things are taken out as a straight percentage up to a certain amount of income being earned in a year, and then stop (like FICA). All these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to. Understand that the definition of income changes with each application...your income from your employer is one thing, but the taxable income is different for the IRS, the State, and each other. . Finally, there are a number of different legal ways for the payroll provider to calculate certain aspects of the amount to withhold...but overall they make only a small difference.. Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty). Again, adjusting your W-4 is the way to correct for any of these circumstances. (MORE)
Investopedia advises that the principal, interest, taxes and insurance should not exceed 28% of your gross income.
Percentage of business income should not be used to decide rent.Business needs and desires should be used to calculate rent. Youcould be making hundreds of thousands of dollars working out of ahome office.
Loan officers state that 72 to 75% of your income goes for housing. This may be true these days. Gas prices should be way up there now.
Child support should go towards support of the child, such as: diapers, clothing, food, medicine, furniture, toys, entertainment and so on. Child support is simply a non-custodial parent's financial share of supporting a child that they would normally spend if they were still in the home. It is not …a penalty. It is a responsibility. (MORE)
Retail speciality rent should not exceed 10% of gross sales. Project a realistic expectation of sales to establish a rent you can support. Calculate your base rent on this projection and allow for a 20% error on the down side. Keep in mind the lessor must cover costs and realize a gain on the invest…ment, so new facilities may not be within range of what you can support. Depreciated older property may be the best option. If your business is characterized by growth, you may want to offer the lessor a percentage of the sales over the base amount to offset a lower rent. (MORE)
6% to 8% of gross sales . Restaurant Rent: How Much is Too Much? By Richard D. Williams, MAI Tuesday, 31st October 2006 . http://www.4hoteliers.com/4hots_fshw.php?mwi=1661
If rent received is of this financial year it enters in the I/S under Revenues. If it is prepaid, the amount prepaid is deducted and entered in the SOFP under Current Liabilities as Prepaid Rent Receivable
What percentage of gross income is withheld as an employee's contribution to the Social Security system?
6.2% of an employee's income is withheld as their contribution toSocial Security. This withholding is capped at a salary of $118,500
To keep yourself financially stable, it is suggested that you keep your rent or mortgage payment 30% or less of your take-home pay.
In retail ( outside a mall) I would think around 6 to 9% I wouldadd my advertising cost to that for the real number . If your notin the mall, I like to think my business is a combination ofexpousere from rent and advertising.
Well one is obligated to pay their rent, but if someone is going to be paying over 30% of their monthly income on rent, there is a possibility of going upside down.
At a well known corporation such as Mc Donald's the managers are instructed to start cutting crew members if the labor percent grows above 20% of revenue.
None. You should not need to use credit cards for monthly expenses. If you use them for convenience, they should be equal to the budget category you are using them for, such as food, gas, entertainment. If you pay interest on a balance, you are working for someone else instead of yourself. If… you have credit card balances, you should work hard to eliminate them, paying as much as you possibly can without starving yourself or letting other debts grow. (MORE)
Depends on the business but for most small business your total occupancy cost should never exceed 10% of total sales.
The percentage you need to pay will depend upon the tax bracket youare in. If you are unsure, you should hold back at least 30%.
You should get the information from your employer payroll department if you really need to know the correct numbers or amount that should be deducted from your gross earnings
The medicare percentage is 1.45 on all gross earned income money that you work for, for the employer and the employee each.
It will vary depending on income. People earning a small amount will probably want to spend as little on food as possible, but it may still be a fairly large percentage in comparison to a very affluent person buying expensive foods.
Your employer payroll department would have to give you the correct percentage that they will be withholding for all of your federal taxes that they will be required to withhold from your gross income.
Yes. Gross income means all income you received in the form of money ( ie social security benefits), goods, property and services that is not exempt from tax , including any income from outside the United States (even if you can exclude part or all of it).
well lets see why dont we all skip over to mambe-pambe land and get yourself some self confidence you jackwagon tehe
Yes rental income and expenses would be reported on the schedule E of the 1040 tax form. There are special rules relating to the rental of real property that you also use as your main home or your vacation home. For information on income from these rentals, or from renting at an amount less than the… fair market value, refer to Topic 415 , Renting Residential and Vacation Property (formerly Renting Vacation Property and Renting to Relatives). Go to the IRS gov web site and use the search box for TOPIC 415 Click on the below Related Link (MORE)
What percent of their gross income do the kendricks receive from their rent house if they receive 60000 a month in rent and earn 2345.00 a month?
Total Income = 60000 Rental Income = 2345 % income from rent = 2345 / 60000 * 100 = 3.9% Kendricks receive 3.9% of his gross income through rent.
Typical Dental Tech pay ranges from $9/hr to $19/hr depending on location, experience, job responsibilities, etc. It would be extremely rare for a dental tech to receive a portion of the lab's gross income and would absolutely NEVER be expected unless it was agreed upon in a contract. If the dental …tech were an investor in the business then it would be more understandable. However, in that case the tech would be receiving dividends based on his/her status as an investor not as the lab's tech. ans As noted above, it is extremely rare but not only in that field - simply in any - that anyone - even an investor/owner - gets paid a percent of GROSS. If anything it would be a percent of net, which is after expenses are taken out...and as an investor (hence owner) that comes along with being responsible for if there is a net loss that needs to be covered. Even commissioned sales people may be paid on a percent of THEIR sales or such, but not on the gross income of the company overall....and if they don't make the company more gross income they don't make anything. (MORE)
Every business model is different. There is no set amount or even a preferred range.
The dollar value amount is probably used by the department that is using the amount as figuring a part of your income support that you receive for the year from all sources. Food stamps are part of a public assistance program. They aren't taxable. You don't include them on your tax return.
Other or rent revenue is also revenue which is not from basicoperations of business that's why this revenue is shown as otherrevenue in income statement.
I believe Rent Income or "rental income" is any income received from a property you own & have tennants in who pay you "rent" to live there. This is usually considered a form of income, obviously depending on the country you live in.
The industry standard is 30%. This all depends on what style of restaurant you are. The more fine dining the higher the wage costs will be. But no more than 40%
The general consensus is 10%-20% of your monthly income is ideal, although this may not be practical depending on your personal financial situation. However, you should work hard to save as much as you can because this becomes your safety net if something unfortunate would happen - losing a job, ill…ness in the family, etc. (MORE)
It would depend on the company. A restaurant would need more (obviously). A dry cleaner would need none or next-to-none. A sales company would need somewhere in between because they'll be taking clients out to lunches. Same goes for a company that might host banquets.
In Massachusetts, any source of financial gain is considered. In other states, this would need to be addressed as a rebuttable presumption.
The classic rate has been 4-5%, although, ranges from 2-7% are often common via direct deposit. Ideally, a 10-14% rate should be more than enough if living within your means.
If you're going to set salaries as a percent of gross income, I submit that you're approaching the issue from the wrong direction. Salaries should be established based upon, not gross income, but (i) the responsibilities associated with the job and (ii) existing salaries for positions with similar …responsibilities within your market. (MORE)
Some religious leaders preach to give 6%, 8%, or even up to 10%(most common); however the choice is yours to give as much as youbelieve to be right. A 'tithe' is considered 10%. Answer-2 In Islam the compusory Zakat is 2.5% of the annual saving. You maygive any amount to the poor and the needy as… Sadqa. Allah Almightywill reward you for your charity. Answer-3 Note that some cults demand a 50% tithe or evenhigher. Such demands are immediately suspect. And when someone says"give 10%," that's fine. But if he/she says "give it to MYinstitution," that's grounds for suspicion. (MORE)
Unearned rent is not a part of income statement rather it is a partof balance sheet and it is shown under liability side as it is thatrevenue which is not yet earned by company.
You can look at rent two ways: percentage of business or a flat rate. If you are looking at a percent, rent should be less than 10% of a successful business. Any higher and you are not making enough income to cover all of your costs and giving yourself a reasonable income to live on. If you lo…ok at rent as a flat rate, it should be the smallest of your top five bills. Electricity may be one of your largest bills depending on your location. Payroll will be another huge bill. Taxes might even top them all in some cities. Your inventory should be in the top five too. Other fees associated with a triple net lease will also factor into your costs. Trash removal is also important. (MORE)
Absolutely. It is categorized as an expense on the income statement. (whether or not it was actually paid is not relevant - this would matter only for the cash flow statement)
No. Any time a batter makes it on base, it counts towards his totalbases, which is a part of the formula which calculates OBP. Itdoes, however, affect his batting average.
If Rent Revenue is shown in income statement but if that revenue isstill receivable in accrual accounting system then it will shownunder balance sheet at asset side as well.
Utilities are largely a fixed cost that depend on where you live,not a percentage of income. It's not like you should say "I'm rich,I should leave the air conditioner on with the doors and windowsopen." It would be more realistic to contact your local utilities for an"average" bill amount (or, even… better, an actual historicalaverage for the specific house/apartment you're considering) andbudget based on that, instead of trying to figure out how much it"should" be based on what you make. (MORE)
In the real sense of the word, there is nohard and fast rule as to a specific percentage that'll work acrossthe board. However, a very good general rule of thumb is somewherebetween 10 to 20 percent of your gross income. The sooner you beginsaving, the greater your chances of being able to achieve y…ourtarget with a lower portion of your income, because you'll havemore time to put the power of compound interest to work in growingyour nest egg. Always commit to a percentage (not a set amount) ofyour income so that as your earnings increase over time a portionof the growth will go toward your retirement savings. Finally, itis crucial to keep in mind that the more you are able to save todaythe better. (MORE)