1. PR03-27 2. PR 03-30 3. PR.03-39 4. PR 03-46 5. PR 03:50 Problem 3-50 (10.9) Each year, Tom and Cindy Bates (manied filing jointly) normally have itemized deductions of $22,000 (which includes an annual $4,000 pledge payment to their church). On the advice of a friend, they do the following: In early January 2022, they pay their pledge for 2021; during 2022, they pay their pledge for 2022; and in late December 2022, they prepay their pledge for 2023. a. What are the Bateses trying to accomplish? To have their itemized deductions exceed the standard deduction 6. BCPA 03 02 In most cases, the choice between using the standard deduction and itemizing deductions from AGE is a simple matter-pick whichever yields the larger tax benefit. However, taxes might be saved by alternating between the two options by tax planning, b. what would the Bates' total itemized deductions be it all three church pledge payments were made in 2022? Assume that the itemized deductions of $22,000 already induded one year of the church pledge payments. 30,000 what will be the Gates tax savings if their marginal tax bracket is 24% for all three years (Assume that the standard deduction amounts for 2022 and 2023 are the same) the concentrating their charitable contributions, their tax savings becomes 3,600 Type here to arch O 9 3 GP 1109 PM Rain.. 1/12/2002