1.  Based on the following data would Ann and Carl Wilton receive a refund or owe additional taxes? How much? Adjusted...

1.  Based on the following data would Ann and Carl Wilton receive a refund or owe additional taxes? How much?

Adjusted Gross Income    $46, 950                Itemized Deductions     $15, 820

Child Care Tax Credit       $170                      Federal Income Tax Withheld     $2,600

Amount for Personal Exemptions $8,660       Tax Rate on Taxable Income     30 Percent

2.  On December 30, you decide to make a $4,280 charitable donation.

a) If you are in the 12 percent tax bracket, how much will you save in taxes for the current year?