Mod 120 capstone

BUSINESS CALCULATIONS CAPSTONE PROJECT

UEI COLLEGE BUISNESS OFFICE AMINISTRATION

CANDICE LOPEZ 12-22-16 INSTRUCTOR: FRANK EZENEKWE, MBA

Percentage Increase In Value 1.Write down the starting value and end value.

2.Find the size of the increase.

3.Divide the answer by the starting value.

4.Multiply the result by 100.

EXAMPLE: CAR INSURANCE PREMIUM BEFORE INCREASE: $400 CAR INSURANCE PREMIUM : $450 $50 INCREASE

$50(INCREASE)/400(1ST NUMBER)= 0.125% 0.125 x 100= 12.5% INCREASE IN PREMIUM

Payroll Deductions

*Federal Withholding is the amount of taxes that are taken out of your paycheck every pay.

*Social Security is calculated as 6.2% of your gross and is saved and used for employees who retired and/or are disabled. *Medicare: The federal government requires every working American to contribute to Medicare, a U.S. government insurance plan that provides hospital, medical, and surgical benefits for Americans age 65 and older and for people with certain disabilities. Every worker contributes 1.45% of their gross income to Medicare and every employer chips in an additional 1.45% on behalf of each employee. *State Disability Insurance (SDI): is a partial wage-replacement insurance plan for California workers. Workers covered by SDI have two benefits available to them: Disability Insurance and Paid Family Leave. *State Withholding: The amount withheld from earnings for taxes imposed by some states on gross earnings. *Net Pay: The total amount of the employee’s pay after deductions.

How to calculate *Identify the assessed value of the property *Identity the percentage of the assessed value *Identify the tax rate by multiplying the assessed value by 0.125, then divide into 12(months).

Example:

House value is: $1,000,000 %: 25% Assessed Value:$250,000 $250,000 x 0.125 = $31,250

How to file tax returns 1.Gather your financial records for income and expenses.

2.Get the forms, schedules, and publications you need.

3.Fill in your return, making sure to follow the steps provided by the IRS. 4.Double-check your return to make sure it's correct.

5.Sign and date your return.

6.Attach all required forms and schedules.

How to calculate tax due & tax refund *To calculate your tax refund, list all income items, subtract all deductions, apply the appropriate tax rate, and then determine if the amount already paid or withheld is greater than the amount owe. If the amount already paid or withheld is greater than the amount owed, the taxpayer is entitled to a refund.

How Health & Life Insurance Works Health Insurance *Health insurance pays or helps pay for medical and/or surgical expenses. Depending on the type od policy you might have out of pocket expenses *The 2 most common types of insurance: Preferred Provider Organization (PPO) Health Maintenance Organization (HMO)

Life Insurance *Life insurance is a policy set up for if/when you and/or a family member dies, you will get money for burial, bills and etc. *You can chose the amount and type of policy you want or need. *You can borrow money from your policy after a certain period of time of paying into your policy.

Automobile Insurance Accident Breakdown

*An insurance premium is the amount of money that an must pay for an insurance policy per year, 6 months, etc. *The specified amount of money that the insured must pay before an insurance company will pay a claim. *Any amount over the 25-50-10 must be paid out of pocket. *You cannot transfer funds in any section of the 25-50-10.

25-50-10 *$25,000 for 1 person (Bodily injury) *$50,000 for all people involved (Bodily injury) *$10,000 for property damage

Thank You!