Discuss reasons why a married couple may choose not to file a joint return.

What will be an ideal response?


1. One spouse incurs most of medical expenses and itemized deductions can be maximized.
2. They may not want joint tax liability.
3. Casualty losses may be deductible on a separate return but not on a joint return because of the 10% floor.

Business

You might also like to view...

Radio advertising offers the advantage of having definable target markets based on the radio station's format

Indicate whether the statement is true or false

Business

When is interest expense less than interest paid?

A) when bonds are sold at a premium B) when bonds are sold at par C) when bonds are sold at a discount D) when bonds are sold at a yield

Business

The interteam dynamics (e.g., whether some members have more power or status than others) will affect the intrateam negotiation process.

Answer the following statement true (T) or false (F)

Business

Quentin is a member of the Album of the Month Club and receives a new music CD every month without fail

The Club usually gives its members a time period within which they can reject the selection and stop shipment of the CD, failing which the CD will be shipped. Last month, Quentin received a CD from Album of the Month Club, a copy of which a friend had already gifted him. As he was away, Quentin had not found time to reject the selection and had to buy the CD. What kind of an offer-acceptance model does Album of the Month Club have? A) mirror image rule acceptance B) silence as acceptance C) acceptance-upon-dispatch D) unequivocal acceptance

Business