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klasskru [66]
3 years ago
14

Assume that Chris and Heather get married in 2019 and file a joint return. What is their taxable income and income tax

Business
1 answer:
konstantin123 [22]3 years ago
4 0

Question Completion:

Chris and Heather are engaged and plan to get married. Chris is a full-time student and earns $8,500 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Heather is employed and reports $83,600 in wages.

Answer:

Chris and Heather

Taxable income and income tax (jointly):

Gross income               $92,100  

Standard deduction      24,000

Taxable income           $68,100  

Income tax                   $14,982

Explanation:

Chris' income = $8,500

Healther's wage= $83,600

Gross income =   $92,100

Standard deduction (jointly) = $24,000

Income tax rate = 22%

Income tax (jointly) = 22% of $68,100 = $14,982

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Answer:

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A manufacturing company that has only one product has established the following standards for its variable manufacturing overhea
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Answer:

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Since the variable overhead is charged using labour hours, any amount by which the actual labour hours differ from the standard allowable hours would result in a variance  

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3 years ago
What are the three ways the argument section of a cover letter can be formatted
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3 years ago
A house worth $250,000 has a coinsurance clause of 90 percent. The owners insure the property for $191,250. They then have a fir
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3 years ago
What would be the purchase price for a $5,000, 91-day T-bill paying 3% interest?
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Hope this help
3 0
3 years ago
Read 2 more answers
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