Exam (elaborations)
Federal Income Taxation study guide latest edition
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Five Step Federal Income Tax Analysis* - >>(1) Determine GROSS INCOME; (2) Deductions; (3) Characterizations; (4) Apply rates (progressive) to taxable income to arrive at TAX LIABILITY; and (5) Subtract credits from tax liability to meet NET TAX DUE. Definition: Gross Income - >>Gr...
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