Describe the tax savings for an individual in the 28 percent marginal tax bracket who owns a
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Describe the tax savings for an individual in the 28 percent marginal tax bracket who owns a business with $10,000 in "profits" if the individual incorporates, giving his or her child a 50 percent interest in the business. Assume the child has no other income and, as a dependent, cannot claim a personal exemption and can take only a standard deduction.
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Incorporating a business and giving a child a 50 percent interest in the business can have tax impli...View the full answer
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Related Book For 
Economics Of The Public Sector
ISBN: 9780393925227
4th Edition
Authors: Joseph E. Stiglitz, Jay K. Rosengard
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