Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2022 Christmas season and get married around the end of the year. In 2022, Raphael expects to earn $45,900 and Martina expects to earn $16,800. Their employers have deducted the appropriate amount of withholding from their paychecks throughout the year. Neither Raphael nor Martina has any itemized deductions. Required: They are trying to decide whether they should get married on December 31, 2022, or on January 1, 2023. What do you recommend? Use the appropriate Tax Tables. If Raphael and Martina get married in 2022 If Raphael and Martina get married in 2023 Recommendation: Collective tax liability in 2022 Thus, for tax purposes, it makes more sense for Raphael and Martina to get married in 2022. Thus, for tax purposes, it makes more sense for Raphael and Martina to get married in 2023.
Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2022 Christmas season and get married around the end of the year. In 2022, Raphael expects to earn $45,900 and Martina expects to earn $16,800. Their employers have deducted the appropriate amount of withholding from their paychecks throughout the year. Neither Raphael nor Martina has any itemized deductions. Required: They are trying to decide whether they should get married on December 31, 2022, or on January 1, 2023. What do you recommend? Use the appropriate Tax Tables. If Raphael and Martina get married in 2022 If Raphael and Martina get married in 2023 Recommendation: Collective tax liability in 2022 Thus, for tax purposes, it makes more sense for Raphael and Martina to get married in 2022. Thus, for tax purposes, it makes more sense for Raphael and Martina to get married in 2023.
Chapter3: Income Sources
Section: Chapter Questions
Problem 56P
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Question
Transcribed Image Text:Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2022 Christmas season and get married around
the end of the year. In 2022, Raphael expects to earn $45,900 and Martina expects to earn $16,800. Their employers have deducted
the appropriate amount of withholding from their paychecks throughout the year. Neither Raphael nor Martina has any itemized
deductions.
Required:
They are trying to decide whether they should get married on December 31, 2022, or on January 1, 2023. What do you recommend?
Use the appropriate Tax Tables.
If Raphael and Martina get married in 2022
If Raphael and Martina get married in 2023
Recommendation:
Collective tax
liability in 2022
Thus, for tax purposes, it makes more sense for Raphael and
Martina to get married in 2022.
Thus, for tax purposes, it makes more sense for Raphael and
Martina to get married in 2023.
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