Pblem-career woman salary 100000child1 a12 , Ask an Expert

Accounting

Problem-

Career Woman Salary: $100,000

Child1 (A12) Student

401k Maximum contribution

Mortgage $200,000 @4%, 30 year

Child Care Expense $5,000

Disability Insurance $3,000

Health Insurance $6,000

Real Estate Tax $6,000

Charitable Contributions $3,000

Goals:

• College Savings
• Retirement

What is their current tax situation?

What would you recommend?

Additional information-

This problem belongs to Accounting and find what is their current tax situation in the given problem.

Word limit- 500.

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