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Married Filing Jointly Single Consider the following couple, who are engaged to be married. Assume that each person takes one exemption and the standard deduction.
Married Filing Jointly Single Consider the following couple, who are engaged to be married. Assume that each person takes one exemption and the standard deduction. Answer the questions below using the tax rates in the table to the right. Tax Rate 10% up to $9325 up to $18,650 15% up to $37,950 up to $75,900 up to $91,900 25% 28% Gabriella and Steve have adjusted gross incomes of $96,700 and $83,000, respectively. 33% up to $191,650 up to $416,700 up to $418,400 above $418,400 35% up to $153,100 up to $233,350 up to $416,700 up to $470,700 above $470,700 $12,700 39.6% Standard $6350 deduction Exemption $4050 $4050 (per person) Calculate their income tax if they delay their marriage until next year so they can file their tax returns as individuals at the single tax rate this year. Their income tax would be $ (Round to the nearest dollar as needed.)
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