Christy connor, who is single, goes to graduate school part-time and works as a

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Christy connor, who is single, goes to graduate school part-time and works as a waitress at the Silver Slipper in Charlotte, North Carolina. During the past year (2008), her gross income was $18,700 in wages and tips. She has decided to prepare her own tax return because she cannot afford the services of a tax expert. After preparing her return, she comes to you for advice, Heres a summary she has prepared so far. Gross Income: $10500 + $8,200 Wages --------------- Tips $1870 Adjusted Gross income - 2300 ----------------- Less itemized deduction 154000 - 5450 ------------------- Less standard deduction $9750 Taxable Income Christy believes that if an individuals income falls below $20,350 the federal government considers him or her poor and allow both itemized deductions and a standard deduction. 1. Christy's taxable income is ? 2. Explain Christy's errors in interpretation of tax laws? 3. How much would Christy and Michael pay if they marry and file a joint return? How much will they pay combined if they remain single? (add her tax and his tax together) From a tax perspective, will it make a difference if they marry? Explain your answer

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