Christopher is a self-employed cash-method, calendar-year taxpayer, and he made the following cash payments related to...
Christopher is a self-employed cash-method, calendar-year
taxpayer, and he made the following cash payments related to his
business this year.
Calculate the after-tax cost of each payment assuming Christopher has a 37 percent marginal tax rate.
c. $600 for office supplies in May of this year. He used half of the supplies this year and he will use the remaining half by February of next year.
Homework Answers
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After tax cost = amount paid for supplies - fully deductible = 600 * (100-37)% = 198 |
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Christopher is a self-employed cash-method, calendar-year
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Christopher is a cash-method, calendar-year taxpayer, and he made the following cash payments related to his...
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