Susanna is single with taxable income in 2019 of $188,225 of which $130,000 is attributable to her

Question:

Susanna is single with taxable income in 2019 of $188,225 of which $130,000 is attributable to her consulting sole proprietorship. She paid W-2 wages of $60,000 to her employees. Compute her qualified business income deduction.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Taxation For Decision Makers 2020

ISBN: 9781119562108

10th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

See More Books

Question Posted: Jul 27, 2023 03:41 AM

See More Questions

Susanna is single with taxable income in 2018 of $185,000 of which $130,000 is attributable to her consulting sole proprietorship. She paid W-2 wages of $60,000 to her employees. Compute her...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
The Kc for the following reaction is 9.30 X 10^-2 at 25C:PCl5(g) <-> PCl3(g) + Cl2(g) How many moles & grams of PCl5 must be added to a 2-literflask to obtain a Cl2 concentration of 0.150M...
As part of the budgeting process, Northview Corporations CFO is developing the overhead budget for next year for its Evans Division. The division estimates that it will manufacture 150,000 units...
How did you personal account influence, if any, your view on fast food choices? Write at least 1 sentence. - Why is this controversy an important social issue? Write at least 1 sentence. - What do...
Mintzberg suggests linking operations laterally. What purpose does this serve and what means are available? LO.1
Select the best answer to the following multiple-choice questions: 1. Which of the following statements is correct concerning a governmental entitys combined statement of cash flows? a. Cash flows...
Changes in current assets and current liabilities are reported on the statement of cash flows, using the indirect method, in the a. separate section of noncash investing and financing activities Ob....
Refer to the information in problems 29 and 50. a. Go to the IRS website (www.irs.gov) and print out the first page and K for Form 1065. Use the information in problem 29 to complete these two to the...
Jenkins Corporation had $675,000 of taxable income for 2018 and $575,000 for 2019. What is the minimum amount that it must submit for each estimated quarterly tax payment to avoid any penalty for...
The electrical conductivities of most metals decrease gradually with increasing temperature, but the intrinsic conductivity of semiconductors always increases rapidly with increasing temperature....
Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited...
Your second task will require you to recover a payload from the conversation. Just need 2.3. Need you to explain step by step, and concept by concept if possible. Use wireshark. Tell me your answer...
2. Supply for art sketchbooks at a price of $p per book can be modelled by P <10 S(p) = = textbooks. p3+p+3 p 10 (a) What is the producer revenue at the shutdown point? (b) What is the producer...
Patterson Company produces wafers for integrated circuits. Data for the most recent year are provided: Expected Consumption Ratios Activity Driver Wafer A Wafer B Inserting and sorting process...
The elementary gas-phase reaction 2A + B C+D is carried out isothermally at 450 K in a PBR with no pressure drop. The specific reaction rate was measured to be 2x10-3 L/(mol-min-kgcat) at 50C and the...
What is illusory profit?
Problem 3.5 (4 points). We will prove, in steps, that rank (L) = rank(LT) for any LE Rnxm (a) Prove that rank (L) = rank (LTL). (Hint: use Problem 3.4.) (b) Use part (a) to deduce that that rank(L) =...
Mark's employer pays 55 percent of the premiums for a disability insurance policy and Mark pays for the other 45 percent. The policy pays Mark 65 percent of his normal salary in the event he is...
Mark's employer pays 55 percent of the premiums for a disability insurance policy and Mark pays for the other 45 percent. The policy pays Mark 65 percent of his normal salary in the event he is...
Sara receives a $5,500 per year scholarship to attend the state university. Sara spends $4,000 for tuition, $500 for required textbooks and $1,000 for room and board. Sara also has a part-time job on...
Create a Data Table to depict the future value when you vary the interest rate and the investment amount. Use the following assumptions: Interest Rates: Investment Amounts:-10.0% $10,000.00 -8.0%...
Isaac earns a base salary of $1250 per month and a graduated commission of 0.4% on the first $100,000 of sales, and 0.5% on sales over $100,000. Last month, Isaac's gross salary was $2025. What were...
Calculate the price, including both GST and PST, that an individual will pay for a car sold for $26,995.00 in Manitoba. (Assume GST = 5% and PST = 8%) a$29,154.60 b$30,234.40 c$30,504.35 d$28,334.75...

Susanna is single with taxable income in 2019 of $188,225 of which $130,000 is attributable to her

Question:

Step by Step Answer:

11700 Because her taxable income exceeds the 160725 threshold by 27500 55 27500 excess abov...View the full answer

Taxation For Decision Makers 2020

Students also viewed these Business questions