Question

Gabriella and Roberto have adjusted gross incomes of $48,000 and $32,700, respectively. Assume that each person takes one exemption and the standard deduction. Answer parts (a) through (c) below. Tax Rate 10% 15% 25% 28% Standard Married Filing Single Jointly up to $8.925 up to $17.850 up to $36,250 up to $72.500 up to $87,850 up to $146.400 up to $183,250 up to $223,050 $6100 $12 200 Exemptions (per 1 person) $3900 3900 a. Calculate the tax owed by the couple if they delay their marriage until next year so they can each file a tax retum at the single tax rate this year. The couple owes $ (Simplify your answer. Round to the nearest dollar as needed.) b. Calculate the tax owed by the couple if they marry before the end of the year and file a joint return. The couple owes $ (Simplify your answer. Round to the nearest dollar as needed.) c. Does the couple face a "marriage penalty if they marry before the end of the year? O No O Yes

Answer 1

Optica Gooss Income Exemption Sed Total in lume less: Gubriella $48000 3900 $ 44100 Roberto $32,700 $ 3900 $28,800 I 1 less: Standard deduction Taxable income $610 $38000 $6.000 $22,700 calculation of tax liability - (Gabriella) Indian AMOUNT . $8925 x 10% - $842.5 $27325 X 15%. = $4098 75. $ 1750 X254. - $ 437.50 Upto Total tap liability $5426.75 ; 185429 calculation of tax licebility [Roberto) upto 8925 x 10). . $892.5 13775 x 15). . $2066.25 Total tox liability 1$2958.75 ;... $2959 - Tox owned by couple if they delay their marriage I $ 5429 Gabriella Roberto & 2959 $ 8388

option AMOUNT $8070 CALCULA 11 (948000 +$32700 (33 900x2) - PARTICULAR Gross Income less: Enemption Total income less! Standard deduction Tuxable income $72,400 $ 12,200 60, 7o - Calculation of tax w. PARTICULAR Upto $17800 x Jol. $42600 x 15%. Totul tax liability liability AMUUNT * $ 1785.0 & $ 6427-5 1$ 8272.5 jie: 98213 Tax owned marry before the by - the end couple if they of the year. - Gabriellut Roberto 2 $ 8213 © Dezes the couple felue marriage penalty if they marry before the end of the year? Answer i No Tax benefit - $8386 - $82,3 = $175