Manny, a calendar year taxpayer, uses the cash method of accounting for his sole proprietorship In late December he performed $37,000 of legal services for a client Manny typically requires his clients to pay his bills immediately upon receipt Assume Manny's marginal tax rate is 37 percent this year and next year, and that he can earn an after tax rate of return of 11 percent on his investments a What is the after tax income if Manny sends his client the bill in December After tax income b What is the after tax income if Manny sends his client the bill in January Use Exhibit 3 1 (Round your answer to the nearest dollar amount ) After tax income

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Manny, a calendar year taxpayer, uses the cash method of accounting for his sole proprietorship  In late December he performed $37,000 of legal services for a client  Manny typically requires his clients to pay his bills immediately upon receipt  Assume Manny's marginal tax rate is 37 percent this year and next year, and that he can earn an after tax rate of return of 11 percent on his investments  a  What is the after tax income if Manny sends his client the bill in December  After tax income b  What is the after tax income if Manny sends his client the bill in January  Use Exhibit 3 1  (Round your answer to the nearest dollar amount ) After tax income

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Manny, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December he performed $37,000 of legal services for a

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