Assuming a 21 percent marginal tax rate, compute the after-tax cost of the following business expenses: a.

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Assuming a 21 percent marginal tax rate, compute the after-tax cost of the following business expenses:
a. $5,600 premium on business property and casualty insurance.
b. $1,200 fine paid for business entertainment.
c. $3,700 premium on key-person life insurance.
d. $50,000 political contribution.
e. $7,800 client meals.

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Principles Of Taxation For Business And Investment Planning 2019 Edition

ISBN: 9781260161472

22nd Edition

Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan

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