Daniel, who is single, estimates that the profits of his business for the current tax...
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Accounting
Daniel, who is single, estimates that the profits of his business for the current tax year will be $100,000. Since the highest tax rate(34%) applicable to corporate taxable income of $100,000 is greater than the highest tax rate (28%) applicable to individual taxable income of $100,000, the Federal income tax liability will be less if Daniel conducts his business as a sole proprietorship rather than as a C corporation. T/F?
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