Question
A taxpayer who is in the 37% tax rate bracket has both a $1,000 deduction and a $1,000 tax credit on his personal income tax
A taxpayer who is in the 37% tax rate bracket has both a $1,000 deduction and a $1,000 tax credit on his personal income tax return. what is his total tax savings from these items? The answer is $1,370 but I want to know how to get to this answer.
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Economic Forecasting For Management Possibilities And Limitations
Authors: Hans G. Graf
1st Edition
9780313017414
