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tax would they pay as a married couple ( using the filing status of married filing jointly and a standard deduction of $ 2 7
tax would they pay as a married couple using the filing status of married filing jointly and a standard deduction of $ versus the total amount the two would
pay as single persons each using the filing status of single Round the answers to the nearest cent. Use the table below.
Tax Rate Schedules
Tax Rate
of taxable income
$ plus of the amount over $
$ plus of the amount over $
$ plus of the amount over $
$ plus of the amount over $
$ plus of the amount over $
$ plus of the amount over $
Married Filing Jointly or Qualifying Widower
Taxable Income Tax Rate
$$ of taxable income
$$$ plus of the amount over $
$$$ plus of the amount over $
$$$ plus of the amount over $
$$$ plus of the amount over $
$$$ plus of the amount over $
$ or more $ plus of the amount over $
Total tax liability as a married couple filling jointly: $
Total tax liability as single persons: $
Strictly from a tax perspective, does it make any difference whether Jeffrey and Joe stay single or get married?Jeffrey Lynch who is single, goes to graduate school parttime and works as a waiter at the Uptown Grill in Chicago. During his gross income was $ in wages
and tips. He has decided to prepare his own tax return because he cannot afford the services of a tax expert. After preparing his return, he comes to you for advice. Here's
a summary of the figures he has prepared thus far:
Gross income:
Jeffrey believes that if an individual's income falls below $ the federal government considers them "poor" and allows both itemized deductions and a standard
deduction. He has found $ in potential itemized deductions.
Calculate Jeffrey Lynchs taxable income. Assume that the standard deduction for a single taxpayer is $ Note that personal exemptions were suspended for
$
Can Jeffrey deduct both itemized deductions and the standard deduction?
Jeffrey has been dating Erin Larson for nearly years, and they are seriously thinking about getting married. Erin has income that is identical to Jeffrey's. How much
tax would they pay as a married couple using the filing status of married filing jointly and a standard deduction of $ versus the total amount the two would
pay as single persons each using the filing status of single Round the answers to the nearest cent. Use the table below.
Tax Rate Schedules
Single
Taxable Income
$$
$$
Tax Rate
of taxable income
$ plus of the amount over $
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