BUSAC 285 In 2014, Lisa and Fred, a married couple, have taxable income of $445,000.
January 7th, 2018
In 2014, Lisa and Fred, a married couple, have taxable income of $445,000. If they were to file separate tax returns, Lisa would have reported taxable income of $225,000 and Fred would have reported taxable income of $220,000. Use Tax Rate Schedule for reference.What is the couple’s marriage penalty or benefit? (Do not round intermediate calculations. Round your answer to 2 decimal places.Input the amount as positive value.)