b. Assume that Chris and Heather get married in 2023 and file a joint return. What is their taxable income and income tax? Round your final answer to nearest whole dollar. Gross income and AGI Standard deduction (married, filing jointly) Taxable income Income tax Married Filing Jointly 89,400 22,000 X 67,400 X 7,648 X c. How much income tax can Chris and Heather save if they get married in 2023 and file a joint return? 6,052 X
b. Assume that Chris and Heather get married in 2023 and file a joint return. What is their taxable income and income tax? Round your final answer to nearest whole dollar. Gross income and AGI Standard deduction (married, filing jointly) Taxable income Income tax Married Filing Jointly 89,400 22,000 X 67,400 X 7,648 X c. How much income tax can Chris and Heather save if they get married in 2023 and file a joint return? 6,052 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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:
Gross income and AGI
Standard deduction (single)
Taxable income
Income tax
Chris
Filing Single
5,800
13,850
0
Heather
Filing Single
83,600
13,850
69,750
13,700 X
Transcribed Image Text:b. Assume that Chris and Heather get married in 2023 and file a joint return. What is their taxable income and income tax? Round your
final answer to nearest whole dollar.
Gross income and AGI
Standard deduction (married, filing jointly)
Taxable income
Income tax
Married
Filing Jointly
89,400 ✓
22,000 X
67,400 X
7,648 X
c. How much income tax can Chris and Heather save if they get married in 2023 and file a joint return?
6,052 X
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