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Morgarella [4.7K]
3 years ago
13

On December 30, you decide to make a $2,500 charitable donation. (Assume you itemize your deductions.) (a) If you are in the 24

percent tax bracket and you expect to itemize your deductions, how much will you save in taxes for the current year
Business
1 answer:
Crank3 years ago
7 0

Answer:

$600

Explanation:

Calculation to determine how much will you save in taxes for the current year

Using this formula

Tax savings = Tax rate × Tax deduction

Let plug in the formula

Tax savings= 0.24 × $2500

Tax savings =$600

Therefore how much will you save in taxes for the current year is $600

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