Which of the following will result in the greatest reduction in your taxes owed, assuming you are in the 22% marginal tax bracket and you itemize deductions? $1,000 tax credit $2,000 tax deduction $1,200 tax credit $3,000 tax deduction A $1,000 federal tax credit for someone with a 35% marginal tax rate will reduce taxes owed by $350 $650 | 0 $1,000 $1,350 A person's federal marginal tax rate is always their average tax rate. less than or equal to greater than or equal to equal to Which of the following will result in the greatest reduction in your taxes owed, assuming you are in the 22% marginal tax bracket and you itemize deductions? $1,000 tax credit $2,000 tax deduction $1,200 tax credit $3,000 tax deduction A $1,000 federal tax credit for someone with a 35% marginal tax rate will reduce taxes owed by $350 $650 | 0 $1,000 $1,350 A person's federal marginal tax rate is always their average tax rate. less than or equal to greater than or equal to equal to