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In 2023, Savannah ($55,000 AGI) contributes stock to her church. The stock, bought seven years ago for $24,000, is currently worth $26,000. Savannah's 2023 marginal
In 2023, Savannah ($55,000 AGI) contributes stock to her church. The stock, bought seven years ago for $24,000, is currently worth $26,000. Savannah's 2023 marginal federal tax rate is 32 percent, and she expects this rate will drop to 22 percent in 2024. Determine the sum of Savannah's cash tax savings (i.e., charitable contribution deduction marginal tax rate) for 2023 and 2024 if she... a. does not make the reduced deduction election. b. does make the reduced deduction election
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Canadian Income Taxation Planning And Decision Making
Authors: Joan Kitunen, William Buckwold
17th Edition 2014-2015 Version
1259094332, 978-1259094330
