Mathematics Homework Help

University of Iowa Family Tax Deductions Questions

 

I’m working on a algebra multi-part question and need an explanation and answer to help me learn.

(The first few questions have been already answered for understanding, please see the attached image for the actual questions)

1. The Anderson family consists of married couple Hannah and Jonathan, and their young daughter Eva. Hannah is a software designer making $58,000 per year, and Jonathan is an office manager making $46,000 per year.

(a). Should they file their taxes jointly or seperately?

Jointly: $9,039

Separately: $9,509
They should file jointly

(b). Determine the FICA taxes for both Hannah and Jonathan.

Hannah:

Social Security tax: $3,596

Medicare Tax: $841

Jonathan:

Social Security tax: $2,852

Medicare Tax: $667

Medicare tax if filed jointly: $1,508

Social security tax if filed jointly: $6,448