Tax Credits and Tax Deductions. Determine how much the fol- lowing individuals or couples will save in taxes if they use the specified tax credits or deductions. r- e 37. Midori and Tremaine are in the 28% tax bracket and take the standard deduction. How much will their tax bill be reduced if they qualify for a $500 tax credit? de- 38. Vanessa is in the 35% tax bracket and takes the standard de- duction. How much will her tax bill be reduced if she quali- fies for a $1500 tax credit? 5645
