Ramon has decided to make his $95,000 gift to the American Heart Association in the form of
Question:
Year PV____________ Factor at 6%
1......................................0.9434
3......................................0.8396
5......................................0.7473
If required, round your final answers to the nearest dollar.
Ramon asks you to determine the tax savings from the tax deduction in present value terms if he were to make the gift this year, rather than delaying the gift until next year.
For purposes of this analysis, ignore the potential impact of the overall limitation on certain itemized deductions.
Total present value of tax savings from the tax deduction if made this year: $Total present value of tax savings from the tax deduction if made next year: $
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Related Book For
South Western Federal Taxation Individual Income Taxes 2018
ISBN: 9781337385893
41st Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
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