Jason did some tax planning, because he had a large gain on the sale of amazon stock. He calculated that he would be in the 33% marginal tax bracket in the current year as compared with his normal 28%. He decided to make his charitable contribution of $5,000 in December instead of his normal practice of doing it in March of the following year. He also shifted his overtime by one week, so he would pay his $3,000 in January instead of December. How much more money would he save? Show work

Answer rating: 100% (QA)

Introduction Salary income is chargeable on due basis or receipt basi... View the full answer