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7 John operates a Restaurant as a sole proprietorship. He as four employees and paid $150,000 wages to his employees. During 2020, the business generates
7 John operates a Restaurant as a sole proprietorship. He as four employees and paid $150,000 wages to his employees. During 2020, the business generates $180,000. QBI Income .His taxable income before QBI Deduction is $140,000 Calculate Qualified business deduction for 2020 b a Same as a except his taxable income is $200,000. Calculate QBI deduction .2*180000 lesser of 50% wages or .2*180000 36,000 b 50% wages 75,000 36,000 QBI Deduction
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