Bruce and Marlene plan to marry in December 2021. Bruce's salary is $150,000 and he owns his residence. His itemized deductions total $14,550 (56,000 of which are charitable contributions). Marlene's salary is $95,000. Her itemized deductions total only $10,800 (none of which are charitable contributions) as she does not own her residence. (Click the icon to view the standard deduction amounts.) (Click the icon to view the 2021 tax rate schedule for the Married filing jointly filing status.) (Click the icon to view the 2021 tax rate schedule for the Single filing status.) Read the requirements. Requirement a. What will their 2021 tax be if they marry before year-end and file a joint return? Taxable income (Use the 2021 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.) Bruce and Marlene's gross tax if they file a joint return is Requirement b. What will their combined 2021 taxes be if they delay the marriage until 2022? Compute the taxable income for Bruce. Taxable income Use the 2021 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.) Bruce's gross tax if he files as a single taxpayer is Compute the taxable income for Marlene. Taxable income (Use the 2021 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.) (Use the 2021 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.) Marlene's gross tax if she files as a single taxpayer is Their combined taxes for the year if they delay the marriage until 2022 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, Bruce is able to utilize on his tax return, and Marlene is able to utilize on her tax return. Therefore, total deductions are if they are unmarried at year end. $ STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses $ 25,100 Heads of households 18,800 Unmarried individuals (other than surviving spouses and heads of households) 12,550 Married individuals filing separate returns 12,550 Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses $1,350* Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse $1,700* Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. $ Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,900 10% of taxable income. Over $19,900 but not over $81,050 ..... $1,990.00 + 12% of the excess over $19,900. Over $81,050 but not over $172,750 . $9,328.00 + 22% of the excess over $81,050. Over $172,750 but not over $329,850 ... $29,502.00 + 24% of the excess over $172,750. Over $329,850 but not over $418,850 ... $67,206.00 + 32% of the excess over $329,850. Over $418,850 but not over $628,300 ... $95,686.00 + 35% of the excess over $418,850. Over $628,300 $168.993.50 +37% of the excess over $628,300. If taxable income is: Not over $9,950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,425 Over $209,425 but not over $523,600 Over $523,600 Single The tax is: 10% of taxable income. $995.00 + 12% of the excess over $9,950. $4,664.00 + 22% of the excess over $40,525. .. $14,751.00 + 24% of the excess over $86,375. .... $33,603.00 + 32% of the excess over $164,925. .$47,843.00 + 35% of the excess over $209,425. $157,804.25 +37% of the excess over $523,600
