Tax Rates
The current corporate tax rate.
What is 21%?
A tax in which the average tax rate increases as the taxable amount increases.
What is a progressive tax?
Proposed the Tax Cuts & Jobs Act
Who is Donald Trump
A potential reduction to $0.00 but not any more.
What is nonrefundable tax credit?
What is England?
The top individual tax rate.
What is 37%?
The law passed on December 22nd, 2017.
What is the Tax Cuts & Jobs Act
Proposing to tax 70% on income over 10 million.
Who is Alexandria Ocasio Cortez?
Food and beverage purchased from a restaurant in 2021 & 2022
What is 100% deductible?
$25,100 as of 2021.
What is the MFJ Standard Deduction?
Increasing the amount of taxable income.
What is broadening the base?
The law passed on March 25, 2020.
What is Cares Act?
Proposal for a 10% flat tax rate with 1st $36,000 tax free on a family of four.
Who is Ted Cruz?
DAILY DOUBLE:
This 1989 film is on the top of the list of one of the best economic teachers in history.
What is Field of Dreams?
Due date for an estate tax return
What is nine months after the death date?
The TCJA Corporate decrease in the top income tax rate.
What is 2.6%
Bonus depreciation phase down to 80%.
What is January 1, 2023?
Idea to eliminate the "progressive" tax rate.
Who is Milton Friedman?
Savings = (amount) x Tax Rate.
What is a deduction?
10% as of 2021.
What is the lowest tax bracket?
Helps reduce the national deficit.
What are higher tax rates?
A tax imposed so that the tax rate is fixed, with no change as the taxable base amount increases or decreases.
What is Proportional Tax Rate?
"No taxation without representation"
Who is James Otis?
IRS Letter 6419
What is Advance Child Tax Credit payments?
37% as of 2021.
What is the highest tax bracket?