Denise (A Single Taxpayer)contributes $6,000 Annually to Her Church

question 8

Essay

Denise (a single taxpayer)contributes $6,000 annually to her church.In addition,she owns a home in which she has $20,000 equity,and she itemizes deductions.If she pays $1,000 interest on credit cards,$6,000 interest on her home equity loan,and is in the 25% marginal tax bracket,calculate Denise's tax savings from these interest payments.

---

Definitions:

Laboratory Examination

A clinical test conducted in a laboratory to analyze samples and diagnose conditions.

Anesthetic

A substance used to induce anesthesia, temporarily eliminating sensation or pain in a part or the entirety of the body.

Needle Holder

Instrument used to hold a suture needle during the suturing process.

Sterile Field

A designated area, such as in a surgical environment, that is kept free of all microorganisms to reduce the risk of infection.