Prior to the Effect of the Tax Credits,Justin's Regular Income

question 82

Multiple Choice

Prior to the effect of the tax credits,Justin's regular income tax liability is $200,000.and his tentative minimum tax is $195,000.Justin reports the following credits.
Child tax credit
$1,000
Adoption expenses credit
5,000
​
Calculate Justin's tax liability after credits.

• A)$190,000
• B)$194,000
• C)$195,000
• D)$200,000

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Definitions:

International Expansion

The process by which a business grows beyond its home country, entering new markets globally.

Employment Practices

Policies and practices related to the management of individuals in a workplace setting, including hiring, training, evaluating, and terminating employees.

North American Free Trade Agreement

A trade agreement between Canada, Mexico, and the United States aimed at reducing trade barriers and promoting economic integration.

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An international treaty aimed at reducing trade barriers and promoting global economic trade.