Gabriella and Steve have adjusted gross incomes of ?$47 comma200 and ?$32 comma 700?, respectively. Assume that each persontakes one exemption and the standard deduction. Answer parts ?(a)through ?(c) below.
Tax Rate | Single | Married Filing Jointly |
|---|
?10% | up to? $8,925 | up to ?$17,850 |
?15% | up to? $36,250 | up to? $72,500 |
?25% | up to? $87,850 | up to? $146,400 |
?28% | up to? $183,250 | up to? $223,050 |
Standard Deduction | ?$6100 | ?$12,200 |
Exemptions? (per person) | ?$3900 | ?$3900 |
a. Calculate the tax owed by the couple if they delay theirmarriage until next year so they can each file a tax return at thesingle 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 theend 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 marrybefore the end of the? year?
