To Minimize Taxes Owed,you Should Do the Following If You

question 63

Multiple Choice

To minimize taxes owed,you should do the following if you expect to have a higher tax rate next year:

• A)Accelerate deductions into the current year
• B)Delay the receipt of income until next year
• C)Delay deductions until next year
• D)Get a loan for the additional taxes
• E)Quit work at the end of the current year

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Definitions:

Intuitive-Type

A person who relies more on intuition and subjective impressions than on rational analysis and objective evidence.

Reason

The power of the mind to think, understand, and form judgments by a process of logic.

Dogmatism

The tendency to lay down principles as incontrovertibly true, without consideration of evidence or the opinions of others.

Authoritarianism

A leadership style marked by strict adherence to authority and control, often at the expense of individual freedom and creativity.