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Each year, the Hundleys normally have itemized deductions of $9,500,

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Each year, the Hundleys normally have itemized deductions of $9,500, including a $3,600 pledge payment to their church. Upon the advice of a friend, they do the following: in early January 2010, they pay their pledge for 2009, during the 2010, they pay the pledge for 2010, and in late December 2010, they prepay their pledge for 2011.;a. Explain what the Hundleys are trying to accomplish.;b. What will be the tax saving if their marginal tax bracket is 25% for all three years? (Assume the standard deduction amounts for 2010 and 2011 are the same.)

 

Paper#32351 | Written in 18-Jul-2015

Price : $24
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