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pls answer all parts!! A and B for both Marginal and average tax rates Partner A, a single taxpayer, is one of two partners in
pls answer all parts!! A and B for both
Marginal and average tax rates Partner A, a single taxpayer, is one of two partners in a small business. As such, she receives pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been made, including the 20% qualified business income deduction, she is preparing to calculate her taxes owed for the year. Using the tax rate schedule given here 1. perform the following: a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $14,800;$82,100;$297,000;$495,000;$1.1 million; $1.4 million; and $1.8 million. b. Plot the average tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). What generalization can be made concerning the relationship between these variables? a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $14,800;$82,100;$297,000;$495,000;$1,100,000;$1.4 million; and $1.8 million. The tax liability for earnings before taxes of $14,800 is \$ (Round to the nearest dollar.) Marginal and average tax rates Partner A, a single taxpayer, is one of two partners in a small business. As such, she receives pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been made, including the 20% qualified business income deduction, she is preparing to calculate her taxes owed for the year. Using the tax rate schedule given here 1. perform the following: a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $14,800;$82,100;$297,000;$495,000;$1.1 million; $1.4 million; and $1.8 million. b. Plot the average tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). What generalization can be made concerning the relationship between these variables? a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $14,800;$82,100;$297,000;$495,000;$1,100,000;$1.4 million; and $1.8 million. The tax liability for earnings before taxes of $14,800 is \$ (Round to the nearest dollar.) Step by Step Solution
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