Question

Michele Walsh is considering an additional charitable contribution of $4,800 to a tax-deductible charity, bringing her total itemized deductions to $14,750. If Michele is single, is in a 35 percent tax bracket, and is not subject to a phase out of deductions, how much will this $4,800 contribution reduce her taxes?

Answer 1

Tax reduction will be equal to $1,680.

Step-by-step explanation:

Michele Walsh is single, is in a 35 percent tax bracket, and is not subject to a phase out of deductions.

She is considering an additional charitable contribution of $4,800 to a tax-deductible charity.

Reduction in taxes

=
`Contribution\ *\ tax\ percentage`

=
`\$ 4,800\ *\ (35)/(100)`

= $1,680