On December 28, 2019, Doris and Dan are considering one last financial decision for 2019, a contribution of $1,000 to the American Diabetes Association. If they make the $1,000 contribution, it will be fully deductible on their 2019 income tax return. Their filing status is married filing jointly. Their 2019 taxable income before this contribution is $150,000. If they make this contribution, what is its after-tax cost?
What will be an ideal response?
The after-tax cost is $780, and the 2019 marginal rate is 22%.
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Which of the following is an appropriate internal control activity for cash?
a. The amount of cash on hand should be kept to a maximum. b. All payments should be made with currency, not checks. c. Banking facilities should be used as little as possible. d. Recordkeeping and custodianship over cash should be performed by separate individuals.
Helena is a person who resolves conflict between two or more parties. When she is brought in to resolve conflict, her decision is legally binding on both parties. Helena can best be called a(n) ______.
A. mediator B. facilitator C. arbitrator D. judge
Steve has a small company with 12 employees. One of his employees, Larry, has been laid off because his work has been outsourced. Larry had health coverage through Steve's company and wants to continue that coverage. According to the Consolidated Omnibus Budget Reconciliation Act, how long can Larry continue his coverage through Steve's company after being laid off?
A. 18 months B. 24 months C. 0 months D. 36 months
Under common law's mirror image rule, an offeree's acceptance must be on the same terms as the offer
Indicate whether the statement is true or false