Jayden calculates his 2015 income tax by using both the Tax Tables and the Tax Rate Schedules.
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Jayden calculates his 2015 income tax by using both the Tax Tables and the Tax Rate Schedules. Because the Tax Rate Schedules yield a slightly lower tax liability, he plans to pay this amount.
a. Why is there a difference?
b. Is Jayden’s approach permissible? Why or why not?
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a The difference between the tax liability calculated using the Tax Tables and the Tax Rate Schedules is due to the way the two methods are designed t...View the full answer
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Related Book For
South Western Federal Taxation 2016 Individual Income Taxes
ISBN: 9781305393301
39th Edition
Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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