Business, 16.01.2021 19:10 banks9244

The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction: Marco and Tatiana are married and file separate returns for 2020. Tatiana itemizes her deductions on her return. Marco's adjusted gross income was $18,000, his itemized deductions were $2,400. Neither have any dependents.

Table for the standard deduction
Filing Status Standard Deduction
Single $12,400
Married, filing jointly $24,800
Married, filing separately $12,400
Head of household $18,650
Qualifying widow(er) $24,800

2020 Tax Table attached.

Calculate Marco's income tax liability assuming the couple does not live in a community property state.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 10:40

Two assets have the following expected returns and standard deviations when the risk-free rate is 5%: asset a e(ra) = 18.5% σa = 20% asset b e(rb) = 15% σb = 27% an investor with a risk aversion of a = 3 would find that on a risk-return basis. a. only asset a is acceptable b. only asset b is acceptable c. neither asset a nor asset b is acceptable d. both asset a and asset b are acceptable

Answers: 2

Answer

Business, 22.06.2019 12:40

When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?

Answers: 3

Answer

Business, 22.06.2019 14:40

In the fall of 2008, aig, the largest insurance company in the world at the time, was at risk of defaulting due to the severity of the global financial crisis. as a result, the u.s. government stepped in to support aig with large capital injections and an ownership stake. how would this affect, if at all, the yield and risk premium on aig corporate debt?

Answers: 3

Answer

Business, 22.06.2019 19:30

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above

Answers: 2

Answer

You know the right answer?

The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction: Marco a...

Questions