personal finance

Project Description:

debt, taxes, and their implications
instructions
1. read chapters 6 and 12 of the new master your money.
2. read pages 142-147 in personal finance, the section entitled “tax planning strategies.
3. prepare a one-page analysis of your own tax and debt burden.
4. in this analysis, identify your own tax burden. complete financial form 20 related to income taxes (located in the “pfp” section in the back of your e-book (the financial planning form section table of contents is on page “pfp-22.”)). then answer the following questions:
a. discuss the effects of taxes on your monthly budget.
b. describe a plan to limit the negative financial impact of taxes.
5. for the debt part of the task, list debts with amounts owing, interest rates, minimum monthly payment amount, and date due.
a. discuss the effects of debt on your monthly budget.
b. about debt: were you surprised by completing this listing of debt data? if so, why, and if not, why? what is your plan related to debt?
c. describe what scripture has to say about debt.
6. use section headings in your paper: a. taxes and the budget, b. taxes – a plan, c. debt and the budget, d. debt – a plan and e. the scriptures and debt
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