When an additional tax deduction is identified,which of the following represents the amount by which taxes will be lower?
A) Amount of deduction*Marginal tax bracket.
B) Amount of deduction*Average tax bracket.
C) Amount of deduction*1 + marginal tax bracket) .
D) Amount of deduction*1 + average tax bracket) .
E) None of the above.
Correct Answer:
Verified
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Q12: Dollar-for-dollar reductions in gross tax are:
A)Adjustments.
B)Other taxes.
C)Credits.
D)Total
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