The top 2% of tax payers (people with more than $250,000 annual adjusted gross income) pay about what percent of ALL federal income tax collected each year?

		50%
		10%
		25%
		90%
		Less than 2% of collected federal income tax.

Eduardo and Maria are married and have 4 young children. They are renting a home. They have earned income of $60,000 for 2020 and no other income or deductions. About how much taxable income will they have after you consider their standard deduction? (Note: Do not include any tax credits -- those credits are not considered until after you have determined taxable income.)

		$28,000
		No taxable income.
		31,400
		$39,300
		$35,200

Tanner has $2,000 in an investment account. He wants it to grow to $4,000 in 8 years. Assuming he adds no more money to this fund, what annual rate of return would he need to earn?

		7%
		9%
		8%
		10%
		6%

Tran has only one itemized deduction item, the $5,000 he gave to his church this year. He is in the 24% marginal tax bracket. How much will his contribution to the church save Tran in taxes for his 2020 tax return?

		$500
		$0
		$5,000
		$1,000
		$1,200

Ben and Marie are saving to buy a house. They need to have $40,000 for a downpayment. They both work and earn good money. They can save $2,000 a month and would earn 7%/year on the money by investing in mutual funds. How many months will it take to save this money?

		30
		19
		1.5
		2
		24