What class am I considered on a 160k combined income?
My residence is in Wisconsin. My husband and I both have two children, live in a 260k house, and pay car leases of 250 dollars per month and 178.3 per month, respectively. We have a lot more bills to pay than that! I don't feel upper middle class nor do I feel anywhere near rich.
How do you answer the question of 'Gross Annual Household Income' when applying for credit?
You should only use yours-- they are trying to figure out how much they can give you-- not all of you. "HOUSEHOLD" is generally used becuase typically it is a married couple with kids-- so the income is all counted.... in your case, just use your own, and if they ask for rent, only include your portion...and that goes for utilities, too.
What's your household income and budget?
I’m not from the US, and monthly (figures converted to USD):Gross salaries with my wife: $7,000Taxes: $300Mandatory health insurance: $300Mandatory retirement: $500Mortgage: $1,000HOA dues (includes hot water and gas): $300Cable & internet: $100Cellphones: $70Electricity: $70Groceries: $400Dining and going out: $300Taxi (uber) and transport (we don’t have a car): $150Life & additional health insurance: $100Gifts (birthdays & weddings): $100Maid (comes 1 day per week): $200Lunch for work x2: $200Travel (accrual): $550Others: $300Rest is saved/invested ($1 -$2k per month).I may have forgot stuff but we save net at the end of the year probably $20–$25kWe don’t have kids yet and we buy very few things for us, such as clothes or electronics. We’re very frugal except we spend around 6k a year in a 2 week holiday abroad.I’m 29 and she is 27.
Is a $120,000 combined income for a family a good income?
It's all relative. Comparing what you have to what others have is a losing game 100% of the time. There will always be those who have more, and there will always be those who will have less. Also, in another cliche phrase, it's not what you have, it's what you do with it. $50,000 can seem like a ton of money when you're used to making $40,000.
Can you add a boyfriend into section 8 house?
If a women has two kids in two bedrooms section 8 housing can she add her boyfriend. In case if they break up and she moved out with her two children can her boyfriend put he’s other girlfriend into section 8 housing.
Does having 10 kids make you tax exempt?
Having 10 kids doesn't make you tax exempt, however you'd need a very high income before you'd owe any Federal income taxes. A typical family of 4 with an income of $40k and with 2 kids under age 17 as of the end of the year will pay $0 in Federal income taxes. A couple with 10 kids would need an income in excess of $75k or more before they'd pay any Federal income taxes.
Why does my family give my brother a hard time for having a lot of kids?
My brother recently converted to Catholicism about six years ago before he married his wife (who was Catholic). From what my brother has told me, he says he's a traditional Catholic who belongs to a traditional Catholic organization called the 'SSPX' that opposes the modern changes in the Catholic Church. Both my brother and his wife do not practice birth control at all, believing that they'll have as many kids as God wills. Right now my brothers wife is pregnant with kid number six ... and my family is giving him a lot of grief for having another kid. Yeah my brother and his family are struggling ... but I do have to say, his family always look so happy and loving every time I see them. They really are the happiest family I've ever seen. Though why do my parents give my brother a really hard time about the number of children they have?
How much can I make without paying federal and state taxes as an independent contractor?
I read that I can make as much as $9500 without paying taxes if I file as single, and up to $18,800 if I'm married filing jointly with no kids. I have two kids, though, and I'm married and we will file jointly. BTW, I do realize I will still have to pay social security and medicare I will only make about $5400 per year as an independent contractor.