McGraw Hill Connect BUS 530 Finance Week 2, full homework, 25 problems with fully worked solutions, work shown. Text: Fundamentals of Corporate Finance, Brealy, 7th edition You have set up your tax preparation firm as an incorporated business. You took $77,500 from the firm as your salary. The firm’s taxable income for the year (net of your salary) was $15,000. Assume you pay personal taxes as an unmarried taxpayer. Use the tax rates presented
McGraw Hill Connect BUS 530 Finance Week 2, full homework, 25 problems with fully worked solutions, work shown. Text: Fundamentals of Corporate Finance, Brealy, 7th edition
You have set up your tax preparation firm as an incorporated business. You took $77,500 from the firm as your salary. The firm’s taxable income for the year (net of your salary) was $15,000. Assume you pay personal taxes as an unmarried taxpayer. Use the tax rates presented in Table 3-5 and Table 3-7. |
a. | How much taxes must be paid to the federal government, including both your personal taxes and the firm’s taxes?
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