Ch 03 End-of-Chapter Problems. Preparing Your Taxes Kontti The whole singes to graduate school part time and works as a waitress at the Backwater Grill in New York. During the past year (2014), her gross income was $13,600 w Wapes and tips. She has decided to prepare her own tax retum because she cannot afford the services of a tax expert. After preparing her return, she comes to you for advice. Here's a summary of the gures she has prepared this for Wage 510,400 8,200 Asted grosince (10) 100 516,300 Standard dechiction -6,200 Taxable income 310,100 Kendir bulves that if on individual's come fatto below 520,350, the federal government considers him or her poor and allows both itemized deduction and standard deduction 1. Cole Kend The's table income, being sure to consider her exemption. Assume that the standard deduction for a taxpayer is 56,200 and that each exemption claimed worth 350. 2. Discine Kundra's errors in interpreting the tax laws, and explain the difference between temized deductions and the standard detection, 3. Kand has been dating loe Kosting for nearly four years, and they are seriously thinking about getting married, loe hos income and itemized deductions that are identical to Kendia's How much we would try as a married couple (using the filing status of married in jointly and standard deduction of $12,400) versus the total amount the two would bayi single person each using the ting status of surgle)? Round the answer to 1 decimal place (Use Exhibit 3.3.) Gay from sta perspective, does it make a diference whether Kendra and Joe stay single of geted? Explain