Business
Business, 20.09.2019 00:30, ellycleland16

Through november, cameron has received gross income of $120,000. for december, cameron is considering whether to accept one more work engagement for the year. engagement 1 will generate $7,000 of revenue at a cost to cameron of $3,000, which is deductible for agi. in contrast, engagement 2 will generate $5,000 of qualified business income (qbi), which is eligible for the 20 percent qbi deduction. cameron files as a single taxpayer. calculate cameron's taxable income assuming he chooses engagement 1 and assuming he chooses engagement 2. assume he has no itemized deductions other than those generated by engagement 2.

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Through november, cameron has received gross income of $120,000. for december, cameron is considerin...

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