Money Talk
OCTOBER 13, 2021
Below are five examples: ¨ Maintain a Low Debt-to-Income Ratio- Keep monthly consumer debt payments (all debts except a mortgage) at 15% or less of monthly take-home pay. Example: $275 of debt payments ÷ $2,500 of net pay equals a consumer debt-to-income ratio of 11% (275 divided by 2,500).
Patriot Software
MARCH 13, 2019
Do not include imputed income in an employee’s net pay. Group-term life insurance exceeding more than $50,000. Imputed income typically includes fringe benefits. Employers must add imputed income to an employee’s gross wages to accurately withhold employment taxes. Adoption assistance exceeding the tax-free amount.
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