5.Assume Sarah is a cash-method calendar-year taxpayer. She made a $400 payment for dinner with out-of-town...
5.Assume Sarah is a cash-method calendar-year taxpayer. She made a $400 payment for dinner with out-of-town clients during contract negotiations. What is the after-tax cost of this payment assuming she has a 25 percent marginal tax rate?
Homework Answers
rate positively ..
| ans | ||||
| only 50% of the amount is allowed to be deducted | ||||
| Total cost= | $ 400 | |||
| 50% of this | $ 200 | |||
| Tax saving =200*25% | $ 50 | |||
| Post tax cost= | $ 350 | |||
| 400-50 | ||||
| Ans = | $ 350 | |||
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5.Assume Sarah is a cash-method calendar-year taxpayer. She made
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