Question
For the year 2019, determine what the earned income credit would be and how that compares to the FICA/income taxes. Assume the individual you are
For the year 2019, determine what the earned income credit would be and how that compares to the FICA/income taxes. Assume the individual you are addressing has two small children and is married filing jointly. Assume one spouse will stay home to take care of the kids, so you only have one income to deal with. At what level of income could you make a case that having a reportable earned income will make the couple financially better off (credits available are greater than taxes to be paid)? please determine the following incomes.
a. $55,000
b. $21,000
c. $2,000
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