Bill and Mary plan co marry in December 2018. Bill's salary is $105,000 and he owns his
Question:
Bill and Mary plan co marry in December 2018. Bill's salary is $105,000 and he owns his residence. His itemized deductions total $19,000. Mary's salary is $86,000. Her itemized deductions total only $8,100 as she does not own her residence.
For purposes of this problem, assume 2019 tax rates and standard deductions are the same as 2018.
a. What will their 2018 tax be if they marry before year-end and file a joint return?
b. What will their combined 2018 taxes be if they delay the marriage until 2019?
c. What factors contribute to the difference in taxes?
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a Adjusted gross income 105000 86000 191000 Minus Itemized deductions 19000 8100 27100 Taxable incom...View the full answer
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Related Book For 
Federal Taxation 2019 Individuals
ISBN: 9780134739670
32nd Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson
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