Mabel and alan who are in the 35 tax bracket recently, Financial Accounting

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Mabel and alan who are in the 35 tax bracket recently

Mabel and Alan, who are in the 35% tax bracket, recently acquired a fast-food franchise. Each of them will work in the business and receive a salary of $175,000. They anticipate that the annual profits of the business, after deducting salaries, will be approximately $450,000. The entity will distribute enough cash each year to Mabel and Alan to cover their Federal income taxes associated with the franchise.

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Financial Accounting: Mabel and alan who are in the 35 tax bracket recently

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