Pat and Joy are considering contributing $5,000 to their church. This contribution will bring their total itemized deductions to $10,000. Assuming they are in the 15% marginal tax bracket, how much will they save in taxes by contributing this $5,000 to their church?

Answer rating: 100% (QA)

To determine how much Pat and Joy will save in taxes by contributing 5000 to ... View the full answer