Ellen is in the 32% marginal tax bracket when considering other income. In addition to that income,
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Question:
Ellen is in the 32% marginal tax bracket when considering other income. In addition to that income, she sold machinery used in her sole proprietorship business this year for $4,000. She bought the machinery six years ago for $11,000 and had made a Section 179 election to expense the total cost of the machinery at the time.
What is Ellen's incremental tax on this income?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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