Question: Hi, I need help with question 2. I attached the tax filing rates with it. Thanks Chapter 3 Critical Thinking Case Cheryl Stern: Bartender or
Chapter 3 Critical Thinking Case Cheryl Stern: Bartender or Tax Expert? Cheryl Stern, who is single, goes to graduate school part-time and works as a waitress at the Sunset Grill in and tips. She has decided to prepare her own tax return because she cannot afford the services of a tax expert. After preparing her return, she comes of the figures she has prepared thus far Seattle. During the past year (2011), her gross income was $19,000 in wages to you for advice. Here's a summary Gross income $11,000 +8,000 Adjusted gross income (AGI $19,000 2,500 16,500 5,800 $10,700 Wages Tips Less: Itemized deductions Less: Standard deduction Taxable income Cheryl believes that if an individual's income fals below $20,350, the federal government considers him or her "poor and allows both itemized deductions and a sta 1. Calculate Cheryl Stern's taxable Income, being sure to consider her exemption, Assume that the standard deduction for a single taxpayer is $5,800 and that each exemption claimed s worth $3,700 s9500 and they are seriously thinking about getting married. John has income and itemized deductions that are identical to thinking about getting married. 2. Cheryl has been dating John Brooks for neary four years, How much tax would they pay as a married couple (using the filing status of married filing jointly and a standard deduction of $11,600) versus the total amount the two would pay as single persons (each using the fling status of single)? Round thie answer to 1 decimal place. (use Exhibit 3.3) s 1917.5 Strictly from a tax perspective, does it make any difference whether Cheryi and John stay single or get maried? Explain
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