Mr. and Mrs. Lund and their two children (Ben and June) are the four equal partners in
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Mr. and Mrs. Lund and their two children (Ben and June) are the four equal partners in LBJ Partnership. This year, LBJ generated $36,000 ordinary income. Compute the tax cost for the business if Mr. and Ms. Lund’s marginal rate is 32 percent, Ben’s marginal rate is 24 percent, and June’s marginal rate is 12 percent. (Ignore SE tax consequences.)
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Related Book For 
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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