Calculated Industries 3420 User Guide - Manual (Page 15)

14 — Q UALIFIER P LUS ® III X
s p Estimated Income Tax Savings (Tax Svgs) —
Calculates an estimated annual income tax savings
for a mortgage, based on entered loan variables,
including property tax, mortgage interest, and tax
bracket. You must enter a tax bracket, then press
s p p to display the estimated annual
income tax savings; the third consecutive press of
p will display the monthly tax savings; and the
fourth press will display the estimated “after-tax”, or
net mortgage payment.
Note: This function is different from the mortgage interest deduc-
tion figured in the Amortization calculation, as it also includes
property tax for a total estimated tax savings and only provides
an annual estimate, not an estimate for a specified range. (See
the
A key definition for details).
s P Rent vs. Buy — Calculates a comparable sales
price, loan amount, and mortgage payment versus
the cost of monthly rent. You must enter loan vari-
ables and a tax bracket via
s + , then enter the
prospective buyer’s current rent and press s
P . Consecutive presses of P will calculate the
comparable sales price, loan amount, monthly loan
payment (including tax/insurance, if entered), and
estimated annual/monthly income tax savings.
s + Tax Bracket (Tax Brkt%) — Enters a buyer’s tax
bracket for figuring Rent vs. Buy calculations or for
calculating an estimated mortgage interest tax
deduction in the Amortization calculation. Press
®
+ to display stored percentage. (Default=28%)
3420UG-E-A 7/2/04 9:06 AM Page 14