How much tax would he save by using his itemized deductions

Assignment Help Financial Management

Reference no: EM131009938

George is single and his standard deduction for the year is $5,800. If he is in the 25% marginal tax bracket, how much tax would he save by using his itemized deductions of $12,600? (Show work and Explain)

Reference no: EM131009938

Questions Cloud

About the emerging markets project : Emerging Markets Project. Select an emerging market that you would like to learn more about (Not your country of origin). Start by compiling fundamental country data, then do additional research to flesh out the nature of the market opportunity offer..

Explain a economic indicator : Explain a/an economic indicator used to determine the health and direction of our economy. Discuss whether the indicator is cyclical or counter cyclical. What are some other indicators of how well the economy is doing not mentioned directly in the te..

The proceeds from a sale of that issuers stock : If the issuer of a stock receives the proceeds from a sale of that issuer’s stock, then the sale:

What is tax liability-marginal tax rate and average tax rate : Jamie has taxable income of $45,000. She is single and her Tax rates are 10% on the first $7,000 of taxable income, 15% of the amount over $7,000 up to $28,400 of taxable income and 25% on the remainder. What is Jamie's tax liability, her marginal ta..

How much tax would he save by using his itemized deductions : George is single and his standard deduction for the year is $5,800. If he is in the 25% marginal tax bracket, how much tax would he save by using his itemized deductions of $12,600? (Show work and Explain)

Immediate-retirement annuity : An insurance agent is trying to sell you an immediate-retirement annuity, which for a single amount paid today will provide you with $7,200 at the end of each year for the next 35 years. You currently earn 4% on low-risk investments comparable to the..

Standard deviation and the measurement of stock volatility : Because there are a number of risk measures that investors and financial managers can utilize to make decisions, what are your thoughts about the accuracy of standard deviation and the measurement of stock volatility? Is this a good assessor of total..

Indivdual retirement account beginning : If an individual places $4,000 per year into a Roth indivdual retirement account beginning at age of 35, how much cash will have accumulated by age 65 if 8% interest is erned each year? How much income per year will be generated by this sum if a 25 y..

Calculate your total percentage return : You purchase 1,000 shares of stock at $45 per share. A year later the stock pays a dividend of $1.25 per share, and it sells for $49. Calculate your total dollar return. Calculate your total percentage return.

User Account

All Pages