realsamuelodd realsamuelodd

08-01-2023
Business

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A person has $50,000 in taxable income for a year and pays a 10 percent income tax rate, equal to $5,000. Which action would reduce the amount the person paid in taxes to $1,000?

A.
Receiving a $4,000 tax deduction

B.
Receiving a $4,000 tax credit

C.
Receiving a $49,000 tax deduction

D.
Receiving a $49,000 tax credit

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