Sonya Owes a Deductible Expense That She Can Pay Either

question 110

Multiple Choice

Sonya owes a deductible expense that she can pay either (and deduct) this year or next year.She is in the 25% marginal tax rate bracket.Which of the following statements about this payment is/are correct?
I.Deductions should always be taken as soon as possible.Sonya should pay the expense this year.
II.If Sonya expects to be in the 28% marginal tax rate bracket next year,she should pay the expense this year.
III.If Sonya expects to be in the 15% marginal tax rate bracket next year,she should pay the expense this year.
IV.If Sonya expects to be in the 25% marginal tax rate bracket next year,she should pay the expense this year.
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• A)Only statement II is correct.
• B)Only statement IV is correct.
• C)Statements I and III are correct.
• D)Statements I and IV are correct.
• E)Statements III and IV are correct.

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