Tax Deduction For New Car Lease
August 10th, 2010Question: How much should I pay for rent?
I will be making about $1900 per month BEFORE taxes and deductions. I need to know about how much I can afford to pay for rent/lease per month if I have to pay $130 per month for insurance then however much for other monthly bills. I don’t know how much these things will cost or even what I will have to pay. Please help! Oh and I am a college student and a CNA. My tuition, books, and cell phone are being paid by my parents and my car is fully paid off and new so I don’t have to worry about any of that. Or gas
Answer: General rule of thumb is that an apartment landlord/manager will want to see you bringing home 2.5-3x the amount of rent. I’ll say you bring home $1425/month (75% of $1900) which means you should qualify to rent $475 or under.
You’ll still need to budget for gas, water, electric, home phone (if you need one), internet access, cable, groceries, and life expenses (clothes, dining out, etc). $820/month is left for that, which should be doable AND you should be able to put a decent chunk away for savings.
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Related Information
ISS is the municipal tax on services levied on the import and the rendering of services listed in Federal Supplementary Law 116/03.
Tax Deduction Tips & Advice : How to Use Car Lease Payments as a Tax Deduction
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