So, if a taxpayer is considering to make a $30,000 investment in a venture, which may generate immediate tax benfits to the taxpayer, who does not plan to itemize his/her deductions and is in the 33% marginal tax bracket. Now, what would happen if the investment is a type that produces a 40% tax credit of the amount from the expenditure and how much would the taxpayer tax liability decline because of this investment? I believe that it is 40% of $30K which is $12K and not no deduction is allowed, but not 100% sure, since I seem not to be able to find the correct material to help me with this one. Thanks.

This question would require some detailed research in the tax code.

You seem able to handle such research, so have at it!

Yes, this site is for individuals who need help with their personal problems or issues,

You have failed to respond to my email asking you why you are asking all of these questions, MY guess is for a tax course, so you are wanting others to give you homework answers, which our site is not for.

And when given answers, you seem to have argued that you knew the right answer to start with, I believe you have worn your welcome out without giving us more info as to what you are doing, why you are asking all of these questions and so on.

Fr. Chuck:

He HAS identified that these are discussion questions in the tax course textbook.

Dear Fr. Chuck,

I do not know what your beef is here, but I have already mentioned that these are some discussion questions that I was seeking outside advice from. Yes, I am taking a tax law course and that my home work assignments are essays and have to do with tax laws. Others in my course are just citing the text and the internet is a pain in the backside in trying to find half way decent other points of view. When I respond to those like the AtlantaTaxExpert, my intenstions are not to argue, but to thank and make some conversation out of it rather than being so cut and dry. Thanks for your concern. Some of these DQs have actually happened to me in the past but beyond the three years of dealing with the IRS. Thanks!

Thanks AtlantaTaxExpert for your defense here. I really appreciuate it.

Glad to help!