Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2021 Christmas season and get married around the end of the year. In 2021, Raphael expects to earn $45,050 and Martina expects to earn $15,100. 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, 2021, or on January 1, 2022. What do you recommend? Use the appropriate Tax Tables. Collective tax liability in 2021 $ If Raphael and Martina get married in 2021 If Raphael and Martina get married in 2022 Recommendation: Thus, for tax purposes, it makes more sense for Raphael and Martina to get married in 2021 3,811 3,962 X

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2021 Christmas season and get married around
the end of the year. In 2021, Raphael expects to earn $45,050 and Martina expects to earn $15,100. 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, 2021, or on January 1, 2022. What do you
recommend? Use the appropriate Tax Tables.
If Raphael and Martina get married in 2021
If Raphael and Martina get married in 2022
A
Collective
tax liability
in 2021
$
$
Recommendation:
Thus, for tax purposes, it makes more sense for Raphael and
Martina to get married in 2021
3,811
3,962
Transcribed Image Text:Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2021 Christmas season and get married around the end of the year. In 2021, Raphael expects to earn $45,050 and Martina expects to earn $15,100. 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, 2021, or on January 1, 2022. What do you recommend? Use the appropriate Tax Tables. If Raphael and Martina get married in 2021 If Raphael and Martina get married in 2022 A Collective tax liability in 2021 $ $ Recommendation: Thus, for tax purposes, it makes more sense for Raphael and Martina to get married in 2021 3,811 3,962
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