On December 28, 2014, Doris and Dan Are Considering One

question 110

Essay

On December 28, 2014, Doris and Dan are considering one last financial decision for 2014, a contribution of $1,000 to the American Diabetes Association. If they make the $1,000 contribution, it will be fully deductible on their 2014 income tax return. Their filing status is married filing jointly. Their 2014 taxable income before this contribution is $150,000. If they make this contribution, what is its after-tax cost?

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Definitions:

Nonunion Operations

Workplaces or businesses that do not have their employees represented by a labor union or similar worker's association.

Turnover

The rate at which employees leave a company and are replaced by new employees over a given period.

Craft Union

A labor union representing workers who are skilled in a specific craft or trade.

Industrial Union

A labor union organizing method where all workers in the same industry, regardless of job function, are organized into a single union.