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cosmosclara
Lv 6
In (U.S.) business, if I write-off a $1500 "bad debt", how much might my taxes (due/payable) decrease?
Is there a "rule of thumb" for how much taxes (due/payable) decrease for every, say, $100 "written-off"? {U.S.]
Update:
What tax bracket might a huge corporation be in (like Microsoft, Capital One Bank, gas companies...)?
1 Answer
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- JudyLv 71 decade agoFavorite Answer
Multiply the deduction by your tax rate - so if you are in a 15% bracket, a $100 deduction would save you $15 in taxes.
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