How will this oversight affect his taxes

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Reference no: EM131306454

1. Impact on Taxes. Daniel has a marginal tax rate of 25%. He suddenly realizes that he neglected to include a $1,000 tax deduction. How will this oversight affect his taxes?

2. Impact on Taxes. If Daniel (from problem 12) had forgotten a $1,000 tax credit (instead of a $1,000 tax deduction), how would his taxes be affected?

Problem-
Impact on Taxes.

Daniel has a marginal tax rate of 25%. He suddenly realizes that he neglected to include a $1,000 tax deduction. How will this oversight affect his taxes?

Reference no: EM131306454

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