Brad and Maryssa plan to marry in December 2020. Brad's salary is $150,000 and he owns his residence. His itemized deductions total $17,400. Maryssa's salary is $81,000. Her itemized deductions total only $8,500 as she does not own her residence. For purposes of this problem, assume 2021 tax rates and standard deductions are the same as 2020 (Click the icon to view the standard deduction amounts.) (Click the icon to view the 2020 tax rate schedule for the Married filing jointly filing status.) (Click the icon to view the 2020 tax rate schedule for the Single filing status.) Read the requirements. Requirement a. What will their 2020 tax be if they marry before year-end and file a joint return? Taxable income (Use the 2020 tax rate schedule for all tax calculations. Do not round intermediary calculations. Only round the amount you enter in the input field to the nearest dollar.) Brad and Maryssa's gross tax if they file a joint return is Requirement b. What will their combined 2020 taxes be if they delay the marriage until 2021? Brad and Maryssa plan to marry in December 2020. Brad's salary is $150,000 and he owns his residence. His itemized deductions total $17.400. Maryssa's salary is $81,000. Her itemized deductions total only $8,500 as she does not own her residence. For purposes of this problem, assume 2021 tax rates and standard deductions are the same as 2020. (Click the icon to view the standard deduction amounts.) (Click the icon to view the 2020 tax rate schedule for the Married filing jointly filing status.) (Click the icon to view the 2020 tax rate schedule for the Single filing status.) Read the requirements. Requirement b. What will their combined 2020 taxes be if they delay the marriage until 2021? Compute the taxable income for Brad. Taxable income Use the 2020 tax rate schedule for all tax calculations. Do not round intermediary calculations. Only round the amount you enter in the input field to the nearest dollar.) Brad's gross tax if he files as a single taxpayer is Brad and Maryssa plan to marry in December 2020. Brad's salary is $150,000 and he owns his residence. His itemized deductions total $17,400. Maryssa's salary is $81,000. Her itemized deductions total only $8,500 as she does not own her residence. For purposes of this problem, assume 2021 tax rates and standard deductions are the same as 2020 (Click the icon to view the standard deduction amounts.) Click the icon to view the 2020 tax rate schedule for the Married filing jointly filing status.) (Click the icon to view the 2020 tax rate schedule for the Single filing status.) Read the requirements Brad's gross tax it he files as a single taxpayer is Compute the taxable income for Maryssa Taxable income (Use the 2020 tax rate schedule for all tax calculations. Do not round intermediary calculations Only round the amount you enter in the input field to the nearest dollar.) Marvesa's cross tax if she files as a single taxpaver is Brad and Maryssa plan to marry in December 2020. Brad's salary is $150,000 and he owns his residence. His itemized deductions total $17,400. Maryssa's salary is $81,000. Her itemized deductions total only $8,500 as she does not own her residence. For purposes of this problem, assume 2021 tax rates and standard deductions are the same as 2020. (Click the icon to view the standard deduction amounts.) (Click the icon to view the 2020 tax rate schedule for the Married filing jointly filing status.) (Click the icon to view the 2020 tax rate schedule for the Single filing status.) Read the requirements. you enter in the input field to the nearest dollar.) Maryssa's gross tax if she files as a single taxpayer is Their combined taxes for the year if they delay the marriage until 2021 will be $ Requirement c. What factors contribute to the difference in taxes? Their tax will be if they marry before year end. If they delay the marriage until the following year, Brad is able to utilize on his tax return, and Maryssa is able to utilize on her tax retum. Therefore, total deductions are if they are unmarried at year end Brad and Maryssa plan to marry in December 2020. Brad's salary is $150,000 and he owns his residence. His itemized deductions total $17.400. Maryssa's salary is $81,000. Her itemized deductions total only $8,500 as she does not own her residence. For purposes of this problem, assume 2021 tax rates and standard deductions are the same as 2020. (Click (Click Requirements (Click Read the a. What will their 2020 tax be if they marry before year-end and file a joint return? b. What will their combined 2020 taxes be if they delay the marriage until 2021? c. What factors contribute to the difference in taxes? Requirem Taxable id Print Done ount (Use the 2 you enter Brad and Maryssa's gross tax if they file a joint return is Brad and Maryssa plan to marry in December 2020. Brad's salary is $150,000 and he owns his residence. His itemized deductions total $17,400. Maryssa's salary is $81,000. Her itemized deductions total only $8,500 as she does not own her resir Reference Rea Req Married individuals filing joint returns and surviving spouses $ 24,800 Heads of households $ 18,650 Unmarried individuals (other than surviving spouses and heads of households) $ 12,400 Married individuals filing separate returns $ 12,400 Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses $1,300 Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse $1,650 Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * Those amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind Tax (Use you Brad Brad and Maryssa plan to marry in December 2020. Brad's salary is $150,000 and he owns his residence. His itemized deductions total $17.400 Manisa's salary is $81.000 Her itemized deductions tataloni S8.500 as she does not own her resi Reference Red Red Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,750 10% of taxable income Over $19,750 but not over $80,250 $1,975.00 + 12% of the excess over $19,750, Over $80,250 but not over $171,050 $9,235,00 + 22% of the excess over $80,250 Over $171,050 but not over $326,600 $29.211.00 +24% of the excess over $171,050 Over $326,600 but not over $414,700 $66,543,00 32% of the excess over $326,600 Over $414,700 but not over $622,050 $94.735.00 + 35% of the excess over $414 700, Over $622,050 $167 307.50 +37% of the excess over $622,050, Tax (Us you Bra Print Done - Brad and Maryssa plan to marry in December 2020. Brad's salary is $150,000 and he owns his residence. His itemized deduct reside d Reference D. Read Requil Single If taxable income is: The tax is: Not over $9,875 10% of taxable income. Over $9,875 but not over $40,125 $987.50 + 12% of the excess over $9,875. Over $40,125 but not over $85,525 $4,617.50 +22% of the excess over $40,125. Over $85,525 but not over $163,300 $14,605,50 + 24% of the excess over $85,525 Over $163,300 but not over $207,350 $33,271.50 + 32% of the excess over $163,300. Over $207,350 but not over $518,400 $47,367.50 + 35% of the excess over $207,350. Over $518,400 $156,235.00 + 37% of the excess over $518,400. Taxab (Use | you er Brad Print Done