After taking into consideration the advantages in tax management, it will not be beneficial for Raphael and Martina to get married and avail tax benefits.
The individual taxable incomes of Raphael and Martina after availing the standard deductions will be $33,000 and $3,400 respectively. Now the computation of taxation liabilities will be computed as,
For Raphael, 10% of $33,000= $3,300;
For Martina, 10% of $3,400 = $340.
However, the joint income will be $61,200 and taxation liabilities of Raphael and Martina will be,
[tex]\rm Taxable\ Income = Total\ Income - Standard\ Deduction\\\\\rm Taxable\ Income =61200-24800\\\\\rm Taxable\ Income =\$36400[/tex]
Solving further,
[tex]\rm Joint\ Taxation = (\frac{10}{100}\ x\ 19750) + (\frac{12}{100}\ x\ 16650)\\\\\rm Joint\ Taxation = 1975+1998\\\\\rm Joint\ Taxation = \$3973[/tex]
Now, it can be compared that the joint taxation is higher than the summation of individual taxation of Raphael and Martina, and thus, tax benefits are not enough for Raphael and Martina to get married.
Hence, the tax benefits of Raphael and Martina after getting married are given as above.
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