1. Joe Teresi
Christian Scott

2. General Information/1040 EZ
Gross Income $60,000.00 Gross Income $55,000.00
Federal Income Tax $8,850.00 Federal Income Tax $7,600.00
Social Security/ Medicare Tax Social Security/ Medicare Tax
$3,390.00 $3,657.50
New York City Tax $3,894.80 New York City Tax $3,430.05
New York State Tax $5,083.00 New York State Tax $5,713.50
Disposable Income $38,182.20 Disposable Income $34,598.95
 http://www.slideshare.net/joet  http://www.slideshare.net/csco
eresi/f1040ez tt3/1040ez-scott

3. Housing
 450 Madison Ave.
New York City, NY 10022
1. 2 bedroom
2. 1 bath
3. 745 square feet
 $1,705.00 per month
 $1,705.00 x 12= $20,460.00
per year

4. Remaining Income
 Joe Teresi  Christian Scott
Disposable Income: Disposable Income:
$38,182.20 $34,598.98
Rent: $10,230.00 Rent: $10,230.00
Remaining Income: Remaining Income:
$27,952.20 $24,368.98

5. Healthcare
Empire Blue Health
New York Program
 Standard program
without prescription drug:
$310.73/month
 $310.73x12=
$3,728.76/year

6. Remaining Income
 Joe Teresi  Christian Scott
Disposable Income: Disposable Income:
$27,952.20 $24,368.98
Healthcare Cost: Healthcare Cost:
$3,728.76 $3,728.76
Remaining Income: Remaining Income:
$24,223.44 $20,640.22

7. Transportation
 Because of the good public
transportation in New York City
neither of us will own a car
 We will both be saving anywhere
from $5,000-$20,000 in car
expenses
 We will be using an EasyPay
Express Metro Card to buy tickets
and pay for fares.
 A subway fare is $2.25 per ride and
Express bus fare is $5.50 per ride.
 Using the subway to work and back
will cost $4.50 a day, and on
weekends we will need money to
go wherever we need, about $5.00
 $4.50x5=$22.5+$5x2=
$33.50/week
 $33.50x52= $1742.00/year

8. Remaining Income
 Joe Teresi  Christian Scott
Disposable Income: Disposable Income:
$24,223.44 $20,640.22
Cost of Cost of
Transportation: Transportation:
$1742.00 $1742.00
Remaining Income: Remaining Income:
$22,481.44 $18,898.22

9. Food/Ect.
 Amount spent on groceries
each week: $150.00
 $75.00/week eating out of the
house
 $150.00 per person/week
 $150.00x52= $7,800/year
 VIZIO E420VO 20’ 1080p
LCD HDTV, Black: $498.00
 Furniture per person: $300.00
 Apartment supplies: $200.00

10. Remaining Income
 Joe Teresi  Christian Scott
Disposable Income: Disposable Income:
$22,481.44 $18,898.22
Cost of Food/Etc: Cost of Food/Etc:
$8,849.00 $8,849.00
Remaining Income: Remaining Income:
$13,632.44 $10,049.22

11. Extracurricular
Christian Scott
1. $1,500.00 for clothes
2. $1,344.86 for a 15 month
membership to Crunch Gym
3. $500 for winter clothes
4. $2,000 for miscellaneous
items/travel
Joe Teresi
1. $1,500 for clothes
2. $1,344.86 for a 15 month
membership to Crunch Gym
3. $500 for winter clothes
4. $2,000 for miscellaneous
items/travel

12. Remaining income
 Joe Teresi  Christian Scott
Disposable Income- Disposable Income-
$13,632.44 $10,049.22
Cost of Extracurricular- Cost of Extracurricular-
$5,344.86 $5,344.86
Remaining Income- Remaining Income-
$8287.58 $4704.36

13. Savings
Open a high yield savings account with Ally Banks
1-1.00% APY
2-FDIC insured
3-No fees to open
Joe Teresi Christian Scott
 Opening up an account  Opening up an account
and depositing $5,000 and depositing $3,000
 Earns $50.25 over a year  Earns 30.15 per year
 Deposits $416.67 a  Has to deposit $250 a
month month
 Income remaining after  Income remaining after
savings savings
 $3,287.58  $1,704.36

14. Utilities
(all cost shared except cell phone)
 Water (shared cost)-$600
 Electricity- $.139/kWh x
8,000kWh/year=$1,112
 Gas- $.689/therm x 1,100
therm/year=$757.90
 TV/Internet/Phone-$54.99/month
 This bundle includes DirectTV, 210+
channels
 High Speed Internet
 Verizon Landline w/ wireless router
 Verizon Cell Phone-$80 per month
+$200 for phone =$1,160 for first
year

15. Remaining Income
Joe Teresi Christian Scott
 Disposable Income-  Disposable Income-
$3,287.58 $1,704.36
 Cost of Utilities-  Cost of Utilities-
$1,564.95 $1,564.95
 Remaining  Remaining
Disposable Income- Disposable Income-
$1,722.63 $139.41

16. Summary of Costs
Joe Teresi Christian Scott
 Starting Income-  Starting Income-
$60,000 $55,000
1. Taxes-$21,817.8 1. Taxes-$20,401.05
2. Housing-$10,230 2. Housing-$10,230
3. Healthcare-$3,728.76 3. Healthcare-$3,728.76
4. Transportation-$1,742 4. Transportation-$1,742
5. Food/Ect.-$8,849 5. Food/Ect.-$8,849
6. Extracurricular- 6. Extracurricular-
$5,344.86 $5,344.86
7. Utilities-$1,564.95 7. Utilities-$1,564.95
8. Savings-$5,000 8. Savings-$3,000
 Remaining Income-  Remaining Income-
$1,722.63 $139.41

17. Works Cited
"1040ez." IRS. U.S. Government. Web. 01 June 2011. <http://www.irs.gov/pub/irs-pdf/f1040ez.pdf>.
"Amazon.com: VIZIO E420VO 42-Inch 1080p LCD HDTV, Black: Televisions & Video." Amazon.com:
Online Shopping for Electronics, Apparel, Computers, Books, DVDs & More. Web. 08 June 2011.
<http://www.amazon.com/VIZIO-E420VO-42-Inch-1080p-Black/dp/B003VQQVDK/ref=sr_1_24?s=tv>.
"Crunch Gym Rates." Crunch Gym. Web. 8 June 2011. <www.crunch.com>.
"EmpireBlue." Affordable Health Insurance Plans for Medical, Dental, Vision and Life from Empire
BlueCross BlueShield. Blue Shield. Web. 01 June 2011.
<http://www.empireblue.com/wps/portal/ehpvisitor?content_path=member/noapplication/f3/s2/t4/pw_a
d067434.htm>.
"Healthy NY: Benefit Package." New York State Insurance Department - Welcome Page. New York State
Governement. Web. 01 June 2011. <http://www.ins.state.ny.us/website2/hny/english/hnybp.htm>.
"High Interest Savings Account: Online Savings Accounts | Ally Financial." CDs, Money Market, Savings &
Checking | Ally Financial. Web. 08 June 2011. <http://www.ally.com/bank/online-savings-
account/#tabs=rates>.
"Madison Ave, New York, NY 10037 - Zillow." Zillow - Real Estate, Homes for Sale, Home Prices & Values.
Web. 01 June 2011. <http://www.zillow.com/homedetails/Madison-Ave-New-York-NY-
10037/2127280523_zpid/#>.
"Mta.info | Maps." Mta.info | Home Page. New York State Governement. Web. 01 June 2011.
<http://www.mta.info/fares/>.
The New York State Department of Taxation and Finance. Web. 01 June 2011. <http://www.tax.ny.gov/>.
"NYC.gov - Energy & Utilities." Web. 08 June 2011.
<http://www.nyc.gov/portal/site/nycgov/menuitem.e2a95046115353f6a62fa24601c789a0>.
"Set Your Location." Cell Phones - Smartphones: Cell Phone Service, Accessories - Verizon Wireless. Web.
08 June 2011. <http://www.verizonwireless.com/b2c/store/controller?>.
"Verizon | Digital TV, Broadband Internet, and Phone Packages | FiOS Bundles." Verizon | Landing. Web.
08 June 2011. <http://www22.verizon.com/residential/bundles/#standard>.