4.Assume Sarah is a cash-method calendar-year taxpayer. She made a $3,000 payment for next year’s property...
4.Assume Sarah is a cash-method calendar-year taxpayer. She made a $3,000 payment for next year’s property taxes on her place of business. What is the after-tax cost of this payment assuming she has a 25 percent marginal tax rate?
Homework Answers
| After tax cost of property taxes | Property taxes*(1-Marginal tax rate) | |||
| After tax cost of property taxes | 3000*(1-0.25) | |||
| After tax cost of property taxes | 3000*0.75 | |||
| After tax cost of property taxes | $2,250 | |||
| Thus, after tax cost of this payment is $2,250 | ||||
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