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Please fill in the ? QBI Calculation Rules: The amount of the deduction is limited to 50% of W-2 wages, or 20% of the S
Please fill in the ?
QBI Calculation Rules: The amount of the deduction is limited to 50% of W-2 wages, or 20% of the S Corp's net income whichever lower
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S Corp | |||
3/31/21 | |||
Current income | $ 1,500,000 | ||
Operating expense without W-2 Wages | 50,000 | ||
Optimal W-2 Wages | ? | ||
Net Profit | ? | ||
50% of Wages | ? | ||
S Corp Income Allocated to Shareholder: | |||
Qualified Business Income | ? | ||
QBID @ 20% | ? | ||
Total Taxable S-Corp Income | ? |
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