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Dahasolnce [82]
3 years ago
14

Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2019 Christmas season and get married around

the end of the year. In 2019, Raphael expects to earn $45,000 and Martina expects to earn $15,000. Their employers have deducted the appropriate amount of withholding from their paychecks throughout the year. Neither Raphael nor Martina has any itemized deductions. They are trying to decide whether they should get married on December 31, 2019, or on January 1, 2020. What do you recommend
Business
1 answer:
Tanzania [10]3 years ago
3 0

Answer:

It would be better to get marry on 2019 that way they will saved in income taxes $138

Explanation:

We have to compare their two single taxable income

against marry filing jointly:

<u>Martina:</u>

15,000 - 12,200 standard deduction = 2,800

It willbe taxed at 10% = 280

<u>Raphael:</u>

45,000 - 12,200 standard = 32,800

It will be taxed 10% of 9,700 = 970

and 12% above: (32,800-9,700) x 12% = 2,772

total income tax for Raphael: 3,742

Total if married in 2020: 4,022

<u>Jointly:</u>

60,000 - 24,400 = 35,600 taxable income

it will be taxes at 10% for the first 19,400 = 1,940

and at 12% for the above: (35,600 - 19,400) x 12% = 1,944

Total: 3.884‬

Difference:

4,022 - 3,884 = 138

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Assume a consumer can buy two goods, A and B, and that the prices are Pa and Pb respectively. The marginal utility of A is MUa a
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(c) MUa/Pa = MUb/Pb

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For $20 million, Ross Adams Mining acquired a tract of land containing a large deposit of anthracite coal. Ross Adams believes t
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Lock Division of Morgantown Corp. sells 80,000 units of part Z-25 to the outside market. Part Z-25 sells for $40, has a variable
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Net decrease in profit = Contribution lost – Cost saved = $180,000 - $40,000 = $140,000

Therefore, the effect on Morgantown's overall profit is $140,000 decrease in Morgantown's profits.

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