Scenario: You are 33 years old, single, earn $55,000 per year,
and are in the 25% tax bracket. You want to understand the federal
tax system and plan ahead so as not to pay unnecessary sums to the
government in taxes. For this tax year, you contributed $1,500 to
an employer-sponsored 401(k), paid student loan interest of $900,
had out-of-pocket medical and dental expenses of $2,000, made gifts
to charity of $1,500, and made rent payments totalling $10,200
during the...