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    Business
  3. Study Set
    Fundamentals of Taxation
  4. Exam
    Exam 1: Introduction to Taxation, the Income Tax Formula, and Form 1040ez
  5. Question
    Tax Liability Is Calculated Using Income Before Permitted Deductions
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Tax Liability Is Calculated Using Income Before Permitted Deductions

Question 53

Question 53

True/False

Tax liability is calculated using income before permitted deductions. Permitted deductions are then subtracted from the tax liability.

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