Accounting Problem A BUSINESS HAS PRE-TAX INCOME OF $100,000 ANDPAYS $25,000 IN TAXES. WHAT IS THE EFFECTIVE TAXRATE?

Explanation of Pre-tax Income: Pre-tax income, also known as earnings before tax (EBT), represents a…

Answered: A BUSINESS HAS PRE-TAX INCOME OF…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter15: Choice Of Business Entity—other Considerations

Section: Chapter Questions

Problem 72P

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A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be the companys pre-tax income in order to have $60,000 after-taxes? A. $88,235 B. $19,200 C. $79,200 D. $143,000
Tax rate?
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Questions:- General Account.
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Suppose pre-tax earnings are $100,000.00 and the corporate tax rate is 42%. How much additional money can a business owner receive by declaring the earnings as personal income which is taxed at a rate of 31%? a. $11,000.00 b. $42,000.00 c. $31,000.00 d. $3,200.00
Required Answer each of the following questions by providing supporting computations. 1. Assume that the company’s income tax rate is 30% for all items. Identify the tax effects and after-tax amounts of the three items labeled pretax. 2. Compute the amount of income from continuing operations before income taxes. What is the amount of the income tax expense? What is the amount of income from continuing operations? 3. What is the total amount of after-tax income (loss) associated with the discontinued segment? 4. What is the amount of net income for the year?
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What is the amount of Taxes Owed for the period if the tax rate is 30%, if Earnings Before Taxes ( a.k.a. EBT, or pre-tax earnings) is 250,000?
If a company's net income before tax is $500. If they have a corporate income tax rate of 40% what would their net income be then?
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How much does the item cost before tax on these financial accounting question?

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A BUSINESS HAS PRE-TAX INCOME OF $100,000 AND PAYS $25,000 IN TAXES. WHAT IS THE EFFECTIVE TAX RATE?