Harvard Law School Loan Calculations

	A	B	C	D	E	F	G	H	I	J	K	L	M	N	O	P	Q	R	S	T	U	V	W	X	Y	Z	AB	AC	AE	AF	AG	AI	AJ	AK
1	Year Taxes Filed	Gross Income	LIPP Income	Taxable Income (Federal)	Taxable Income (NYS)	State Taxes (NYS)	Social Security Taxes	Medicare Taxes	Federal Taxes	After Tax Income	Effective Tax Rate		Annual Loan Payment	My Loan Payment	LIPP Assistance	Annual Take Home Income	Marginal Tax Rate on $1 Income	Effective Tax and Loan Rate			Total Federal Deductions	Personal Exemption	Standard Deduction	Itemized Deductions	HLS Loan Interest Deduction	Tuition and Fees Deduction	Total NYS Deductions	Standard Deduction	Total Tax Credits	American Opportunity Credit	Lifetime Learning Credit	Total LIPP Allowances	Longevity Allowance	Dependent Care Costs
2	2014	0	0	-5950	-7500	#N/A	0	0	#N/A	#N/A	#N/A		$0	$0	0	#N/A	#N/A	#N/A			5950		5950	0	0	0	7500	7500	2000		2000	0	0	0
3	2015	0	0	-5950	-7500	#N/A	0	0	#N/A	#N/A	#N/A		$0	$0	0	#N/A	#N/A	#N/A			5950		5950	0	0	0	7500	7500	2000		2000	0	0	0
4	2016	30000	30000	24050	22500	1134	1860	435	1173	$25,398	15%		$0	$0	0	$25,398	29%	15%			5950		5950	0	0	0	7500	7500	2000		2000	0	0	0
5	2017	93333	93333	87383	85833	5241	5787	1353	17928	$63,025	32%		($23,867)	($23,867)	0	$86,892	42%	7%			5950		5950	-13415	-13415	0	7500	7500	0		0	0	0	0

6	2018	162800	162800	156850	155300	9860	7049	2361	37379	$106,151	35%		($40,915)	($40,915)	0	$65,236	-8183019%	60%			5950		5950	-21751	-21751	0	7500	7500	0	0	0	0	0	0
7	2019	167684	167684	161734	160184	10185	7049	2431	38746	$109,272	35%		($40,915)	($40,915)	0	$68,357	-8183019%	59%			5950		5950	-20058	-20058	0	7500	7500	0	0	0	0	0	0
8	2020	172715	172715	166765	165215	10520	7049	2504	40155	$112,486	35%		($40,915)	($40,915)	0	$71,571	-8183019%	59%			5950		5950	-18214	-18214	0	7500	7500	0	0	0	0	0	0
9	2021	177896	177896	171946	170396	10864	7049	2579	41605	$115,797	35%		($40,915)	($40,915)	0	$74,882	-8183019%	58%			5950		5950	-16207	-16207	0	7500	7500	0	0	0	0	0	0
10	2022	183233	183233	177283	175733	11219	7049	2657	43100	$119,208	35%		($40,915)	($40,915)	0	$78,292	-8183019%	57%			5950		5950	-14023	-14023	0	7500	7500	0	0	0	0	0	0
11	2023	188730	188730	182780	181230	11585	7049	2737	44845	$122,514	35%		($40,915)	($40,915)	0	$81,598	-8183014%	57%			5950		5950	-11646	-11646	0	7500	7500	0	0	0	0	0	0
12	2024	194392	194392	188442	186892	11961	7049	2819	46714	$125,849	35%		($40,915)	($40,915)	0	$84,933	-8183014%	56%			5950		5950	-9059	-9059	0	7500	7500	0	0	0	0	0	0
13	2025	200223	200223	194273	192723	12349	7049	2905	48638	$129,281	35%		($40,915)	($40,915)	0	$88,366	-8183013%	56%			5950		5950	-6243	-6243	0	7500	7500	0	0	0	0	0	0
14	2026	206230	206230	200280	198730	12749	7049	3046	50620	$132,765	36%		($40,915)	($40,915)	0	$91,850	-8183013%	55%			5950		5950	-3179	-3179	0	7500	7500	0	0	0	0	0	0
15	2027	212417	212417	206467	204917	13170	7049	3192	52662	$136,344	36%		($17,048)	($17,048)	0	$119,296	-3409564%	44%			5950		5950	-356	-356	0	7500	7500	0	0	0	0	0	0
16
17		Inputs
18		Starting Salary		$160,000
19		Loan Amount		$275,000
20		Interest Rate		8.50%
21		Orig. Fees?
22							Lower bracket level	NYS Tax Rates	Tax at beginning of bracket			Lower bracket level	Federal Tax Rates	Tax at beginning of bracket				Lower bracket level	Loan Repayment Schedule	Payment at beginning of bracket
23				$160,000			0	4.00%	0			0	10%	0				0	0%	0
24				$275,000			8000	4.50%	320			8700	15%	870				46000	20%	0
25				8.50%			11000	5.25%	455			35350	25%	4867.5				52000	40%	1200
26							13000	5.90%	560			85650	28%	17442.5
27							20000	6.45%	973			178650	33%	43482.5				http://www.law.harvard.edu/current/sfs/lipp/participant-contributions/scale.html
28							75000	6.65%	4520.5			388350	35%	112683.5
29							200000	6.85%	12833
30							1000000	8.82%	67633
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