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How much will the champagnes save by transferring income

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Question - Tax Planning for Individuals

Mr. and Mrs. Champagne shift unearned income of $27,000 in the beginning of 2019 to their son Morris, age 24. Their top marginal tax rate is 24 percent since they have taxable income of $180,000 a year. How much will the Champagnes save by transferring income to Morris?

Reference no: EM132431804

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