Based on Spilker chapters (4.6.8) John and Susan are a couple but not yet married....

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Accounting

Based on Spilker chapters (4.6.8) John and Susan are a couple but not yet married. They are contemplating the tax effects of getting married. John earns $210,000 and Susan earns $15,000. Ignore itemized deductions and possible children. You can refer to the text for the standard deduction and tax rates or to instructions to Form 1040

A. Complete the following table (3.6 points including part II). Year 2022

John Susan Combined John Susan
Earns $210,000 $15,000 $225,000 $210,000 $15,000
A B A+B C D E D+E
John Single Susan Single John and Susan are NOT MARRIED. What is their combined tax? John/Susan Married Filing Jointly (MFJ) John - Married Filing Separately (MFS) Susan - Married Filing Separately (MFS) Combined John/Susan MFS
Standard deduction NA NA
Taxable Income NA NA
Tax
Show calculations below NA NA

II. Show tax calculations (for columns A, B, C, D, E

A1. Copy and paste tables used Remember to use 2022 tables

From the above table compare the tax under three different scenarios (A+B) John and Susan are not married, (C) John and Susan are married filing jointly, and (D+E) John and Susan are married but filing separately . In pat III say what you have learned.

Show tax calculations for columns (A,B,C,D,E)

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