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Judy Hays wants to give $3,200 to the building fund at her local church. Assuming Judy can itemize your deductions, how much will this contribution save her on her federal income taxes if she is in the 25 percent marginal tax bracket?

Respuesta :

Answer:

$800

Explanation:

The computation of the saving amount on tax is shown below:

Provided information

Amount is given to the building fund by Judy Hays = $3,200

Marginal tax rate = 25%

By considering the above information, the saving amount on tax would be

= Amount given to the building fund by Judy Hays × Marginal tax rate

= $3,200 × 25%

= $800

We simply multiplied the building fund amount by the marginal ax rate so that the exact value can arrive