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ME RT II: Short Answer. Write your answers in the space provided. (16 marks) - Ashley and Alan separated amicably at the end of 2017
ME RT II: Short Answer. Write your answers in the space provided. (16 marks) - Ashley and Alan separated amicably at the end of 2017 agreed that their two children age 5 and 6 would live with Alan because Ashley travels a lot for business. Alan had stayed home for a few years and went back to work part-time when they separated. As a result, Ashley agreed to pay Alan $1,500 a month in spousal support and $1,800 a month in child support. However, they drew up their own separation agreement and stipulated only that Ashley would pay Alan a total of $3,300 a month in support. Ashley's salary in 2018 is $125,000 and Alan's is $25,000. How much do the annual payments cost Ashley after-tax? How much does Alan receive after-tax? (2 marks) Ashley Salary in 2018= $125,000 $1,500 x 12 = $ 18,000 = $107,000 ME RT II: Short Answer. Write your answers in the space provided. (16 marks) - Ashley and Alan separated amicably at the end of 2017 agreed that their two children age 5 and 6 would live with Alan because Ashley travels a lot for business. Alan had stayed home for a few years and went back to work part-time when they separated. As a result, Ashley agreed to pay Alan $1,500 a month in spousal support and $1,800 a month in child support. However, they drew up their own separation agreement and stipulated only that Ashley would pay Alan a total of $3,300 a month in support. Ashley's salary in 2018 is $125,000 and Alan's is $25,000. How much do the annual payments cost Ashley after-tax? How much does Alan receive after-tax? (2 marks) Ashley Salary in 2018= $125,000 $1,500 x 12 = $ 18,000 = $107,000
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