Business, 25.02.2021 18:00, OlamideO3

Preston and Anna are engaged and plan to get married. During 2020, Preston is a full-time student and earns $7,600 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Anna is employed and has wages of $79,200. Click here to access the standard deduction table to use. Click here to access the Tax Rate Schedules. If an amount is zero, enter, "0". Do not round your intermediate computations. Round your final answer to nearest whole dollar.
a. Compute the following:
Preston
Filing Single Anna
Filing Single
Gross income and AGI$ $
Standard deduction
Taxable income$ $
Income tax$ $
b. Assume that Preston and Anna get married in 2018 and file a joint return. What is their taxable income and income tax? Round your final answer to nearest whole dollar.
Married
Filing Jointly
Gross income$
Standard deduction
Taxable income$
Income tax$
c. How much Federal income tax can Preston and Anna save if they get married in 2018 and file a joint return?

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 19:30, cyynntthhiiaa4

Fly-by products, inc. operates primarily in the united states and has several segments. for the following segment, determine whether it is a cost center, profit center, or investment center: international operations- acts as an independent segment responsible for all facets of the business outside of the united states. select one: a. cost center b. profit center c. investment center

Answers: 2

continue

Business, 22.06.2019 20:10, NorbxrtThaG

Assume that a local bank sells two services, checking accounts and atm card services. the bank’s only two customers are mr. donethat and ms. beenthere. mr. donethat is willing to pay $8 a month for the bank to service his checking account and $2 a month for unlimited use of his atm card. ms. beenthere is willing to pay only $5 for a checking account, but is willing to pay $9 for unlimited use of her atm card. assume that the bank can provide each of these services at zero marginal cost. refer to scenario 17-5. if the bank is unable to use tying, what is the profit-maximizing price to charge for a checking account

Answers: 3

continue

Business, 22.06.2019 20:40, ccory0626

Answer the questions about keynesian theory, market economics, and government policy. keynes believed that there were "sticky" wages and that recessions are caused by increases in prices. decreases in supply. decreases in aggregate demand (ad). increases in unemployment. keynes believed the government should increase ad through increased government spending, but not tax cuts. control wages to increase employment because of sticky wages. increase employment through tax cuts only. increase as through tax cuts. increase ad through either increased government spending or tax cuts. intervene when individual markets fail by controlling prices and production.

Answers: 2

continue

Business, 22.06.2019 21:30, hiji0206

Providing a great shopping experience to customers is one of the important objectives of purple fashions inc., a clothing store. to achieve this objective, the company has a team of committed customer service professionals whose job is to ensure that customers get exactly what they want. this scenario illustrates that purple fashions is trying to achieve

Answers: 1

continue

Do you know the correct answer?

Preston and Anna are engaged and plan to get married. During 2020, Preston is a full-time student an...