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Tax table year used: 2020 Required: Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2020 Christmas season and
Tax table year used: 2020
Required: Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2020 Christmas season and get married around the end of the year. In 2020, Raphael expects to earn $45,200 and Martina expects to earn $15,400. Their employers have deducted the appropriate amount of withholding from their paychecks throughout the year. Neither Raphael nor Martina has any itemized deductions. They are trying to decide whether they should get married on December 31, 2020, or on January 1, 2021. What do you recommend? Use the appropriate Tax Tables Collective tax liability in 2020 If Raphael and Martina get married in 2020 If Raphael and Martina get married in 2021 Recommendation: Thus, for tax purposes, it makes more sense for Raphael and Martina to get married in 2020. Required: Determine the average tax rate and the marginal tax rate for each of the following Instances: Use the appropriate Tax Tables and Tax Rate Schedules a. A married couple filling Jointly with taxable income of $34,791. b. A married couple filing jointly with taxable income of $219,293. c. A married couple filing separately, one spouse with taxable income of $45,685 and the other with $58,018. d. A single person with taxable income of $81,236. e. A single person with taxable income of $338,122. t. A head of household with taxable income of $98,392. g. A qualifying widow with taxable income of $15,819. h. A married couple filing Jointly with taxable income of $13,016. (For all requirements, when computing average tax rate, use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000. Round "Average tax rate" to 1 decimal place.) Complete this question by entering your answers in the tabs below. Req a and b Reqc Reqd to h a. A married couple filing jointly with taxable income of $34,791. b. A married couple filing jointly with taxable income of $219,293. Average tax rate Marginal tax rate % % % a b % Rega and Reqc >Step by Step Solution
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