Tony had an income of $140,000 this year and his total tax liability for this salary is
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Question:
Tony had an income of $140,000 this year and his total tax liability for this salary is $44,336. He never married (he was married to his work) Since he has more money than he knows how to spend, he decided to make a $120,000 donation to the Red Cross. His tax credit for the charitable donation will be:
A. 40,572
B. 34,614
C. 26,072
D. 30,422
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: