If a person is in the 40% personal income tax bracket and they make a $1000 donation to a not-for-profit corporation, how much would their taxable income be reduced? How much money in taxes would this person save?
If a person is in the 40% personal income tax bracket and they make a $1000 donation to a not-for-profit corporation, how much would their taxable income be reduced? How much money in taxes would this person save?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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If a person is in the 40% personal income tax bracket and they make a $1000 donation to a not-for-profit corporation, how much would their taxable income be reduced? How much money in taxes would this person save?
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