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Bobs granddad paid Bob a salary of $12,000 to work in the family business. Granddads...

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Accounting

Bobs granddad paid Bob a salary of $12,000 to work in the family business. Granddads marginal tax bracket was 32%. Brooklyn had no other income.

  • What is the net savings to Granddad and Bob (Grandads tax savings Bobs gross tax)?

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