Question
. Thad a single tax payer has taxable income before the QBI deduction of $187,500. Thad a CPA operates an accounting practice as a single
. Thad a single tax payer has taxable income before the QBI deduction of $187,500. Thad a CPA operates an accounting practice as a single member LLC(which he reports as a sole proprietorship). During 2018, his proprietorship reports net income of $150,000, W2 wages of $125,000, and $10,000 of qualified property.
What is Thad's qualified business income deduction?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
