Question
tax year 2019
2. Marc and Michelle are married and earned salaries this year of $70,000 and $15,000, respectively. In addition to their sal
0 0
Add a comment Improve this question Transcribed image text
Answer #1

SALARIES (70000+15000) INTEREST FROM CORPORATEBONDS $85000 $1400 GROSS INCOME $86400 GROSS INCOME CONTRIBUTION TO INDIVIDUALINCOME TAX LIABILITY ON $58900 (MARRIED, FILING JOINTLY) 6632 LESS: CHILD TAX CREDITS TAX REPAYMENTS 2000 6600 INCOME TAX REFCOMMENT BELOW IF YOU HAVE ANY DOUBT

Add a comment
Know the answer?
Add Answer to:
tax year 2019 2. Marc and Michelle are married and earned salaries this year of $70,000...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In...

    Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000...

  • Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In...

    Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc...

  • Marc and Michelle are married and earned salaries this year of $74,000 and $15,750, respectively. In...

    Marc and Michelle are married and earned salaries this year of $74,000 and $15,750, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $1,750 from corporate bonds. Marc contributed $3,750 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $2,750. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000...

  • Marc and Michelle are married and earned salaries this year of$64,000 and $12,000, respectively. In...

    Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000...

  • Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In...

    Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000...

  • Marc and Michelle are married and earned salaries this year of 560,000 and $ 12,000, respectively

    QUESTION 11.Marc and Michelle are married and earned salaries this year of 560,000 and $ 12,000, respectively. In addition to their salaries, they received interest of 5350 from. municipal bonds and $ 500 from corporate bonds. Marc contributed $ 3,000 to a qualified Ind vidual Retirement Account, and Mart paid alimony to a prior spouse in the amount of $ 1,500 (2017 divorce). Mare and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus,...

  • Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In...

    Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc...

  • e are married and earned salaries this year of $64.000 and $12.000. respectively In addition 54....

    e are married and earned salaries this year of $64.000 and $12.000. respectively In addition 54. they received interest of $350 fro etirement account. and Marc paid alimony to a prior spouse in the amount of Sl son. Matthew. who lived with them throughout the entire year. Thus.Marc and Michell credit for Matthew.Marc and Michelle paid $6.000 ofexpenditures that qualify, as itemized deductions and they had a total of S5.500 in federal income taxes withheld from their paychecks during the...

  • Required information The following information applies to the questions displayed below.) 30 Marc and Michelle are...

    Required information The following information applies to the questions displayed below.) 30 Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the...

  • Marc and Mitchelle

    Marc and Michelle are married and earned salaries this year of $64,000 and $12.000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc and Michelle also paid $2.500 of qualifying moving expenses and Marc paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10 year-old son. Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle e allowed to...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT