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8. According to George Harrison, the Beatles faced an MTR of____ %. Explain why by...

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Accounting

8. According to George Harrison, the Beatles faced an MTR of____ %. Explain why by referring to the lyrics from his song "Tax Man".

9. Explain the difference between a deductible and a credit. Use an example where H and L each spend $100 on category X (H, 35% bracket; L, 15% bracket; credit rate 25%).

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1. Fill in the blanks of the 1040 Income Tax Return for this family of four (assume none of the income is capital gains or dividends): $50,000 Adjustments $ 50 $49,950 (4 x $3,500) $14,000 $ 10,900 or Tentative $. $ 2,000 $ 800 in question 2. Fill in all the percentages in the table. Then show how the tentative 1' is calculated: Taxable Income Tax Rate 30 to $16,050 % $16,050 to $65, 100 % $65,100 to $131.450 % $131,450 to $200,300 % $200 300 to $357700 % Over $357,700 3. For the family above, the tax is % of its taxable income and % of its total income. 4. If a household with $357,700 of labor income earns another $10,000 of labor income, the household's tax will increase $ ; but if that household earns $10,000 of dividends or capital gains, the household's tax will increase $

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