Question
In your own words please answer the following, or some of them: 5. How was the income tax formula for individuals changed for 2018 by
In your own words please answer the following, or some of them:
5. How was the income tax formula for individuals changed for 2018 by the Tax Cuts and Jobs Act?
6. Why are some deductions called above the line deductions and others called
below the line deductions? What is the line?
7. For tax purposes, why is the married filing jointly tax status generally preferable
to the married filing separately filing status? Why might a married taxpayer prefer not to
file a joint return with the taxpayers spouse?
8. What does it mean to say that a married couple filing a joint tax return has joint
and several liability for the taxes associated with the return?
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