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Old 08-30-2004, 01:04 AM
Scott Tyler
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Default Re: budget gross vs net


<anonymous[at]discussions.microsoft.com> wrote in message
news:021301c48e0d$af2038a0$3501280a[at]phx.gbl...
- quote -

> All,
> maybe I'm missing something, but why does my gross salary
> show up in my budget. Off course I wish I had this amount
> of money available monthly but I think none of us
> has ... :-(
> many thanks in advance for helping a newbie ...
> BTW: in 'Bills & Deposits' the correct amount is displayed


We all have that amount of money available, but we're obligated to spend a
lot of it on taxes and so-forth, either weekly, or the following year with
our tax returns. If the Tax Estimator (and your past tax return history)
indicates over-withholding, you can file a new W4 to get some of that back
in your monthly budget.

By having all income and expenses, including obligatory expenses such as
taxes, in one's budget, it's easier to see the benefits of increasing one's
pre-tax retirement contributions, funding a medical or childcare spending
account with pre-tax dollars, keeping one's mortgage and deducting the
interest from one's taxable income, etc.

As long as all your income appears on the first page, and all your taxes
appear on the second page, the budget should balance out as though it were
using your net pay.

--
Scott Tyler
agent_scotty-at-hotmail-dot-com



  #-1  
Old 08-29-2004, 09:18 PM
Guest
 
Posts: n/a
Default budget gross vs net

All,

maybe I'm missing something, but why does my gross salary
show up in my budget. Off course I wish I had this amount
of money available monthly but I think none of us
has ... :-(

many thanks in advance for helping a newbie ...

BTW: in 'Bills & Deposits' the correct amount is displayed
 

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budget, gross, net
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