Question
Thad, a single taxpayer, has taxable income before the QBI deduction of $187,500. Thad, a CPA, operates an accounting practice as a single member LLC
Thad, a single taxpayer, 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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Introductory Accounting Finance And Auditing For Lawyers
Authors: Lawrence A. Cunningham
5th Edition
0314912606, 978-0314912602
