Phil and Christina Are Recently Married and Unsure of Where

question 32

Multiple Choice

Phil and Christina are recently married and unsure of where they will be relocated after Christina finishes her residency in 9 months.Based on this information,which of the following housing recommendations would be most appropriate for them?

• A)Rent an apartment.
• B)Buy a condominium.
• C)Buy a single-family dwelling.
• D)Buy a cooperative apartment.
• E)Buy a manufactured home.

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Definitions:

FICA Tax

Federal Insurance Contributions Act tax, which funds Social Security and Medicare, required to be paid by both employees and employers.

Federal Income Tax

A charge imposed by the United States federal government on the yearly income of individuals, corporations, trusts, and other legal bodies.

Withholding Allowance

Withholding allowance is an exemption that reduces how much income tax an employer deducts from an employee's paycheck, based on the number of allowances claimed.

Federal Income Tax

A financial duty enforced by the federal government on the yearly revenues of persons, corporations, trusts, and different legal organizations.