Qualified business income (qbi) deduction (lo 4.10)rob operates a small plumbing supplies business as a sole proprietor. in 2018, the plumbing business has gross business income of $421,000 and business expenses of $267,000, including wages paid of $58,000. the business sold some land that had been held for investment generating a long-term capital gain of $15,000. the business has $300,000 of qualified business property in 2018. rob's wife, marie, has wage income of $250,000. they jointly sold stocks in 2018 and generated a long-term capital gain of $13,000. rob and marie have no dependents and in 2018, they take the standard deduction of $24,000.the income threshold for qbi limitations starts at $315,000 for married filing jointly taxpayers. a. what is rob and marie's taxable income before the qbi deduction? $b. what is rob and marie's qbi? $154,000what is rob and marie's qbi deduction? $** give explanation and not just the answer. you! **
Answers: 3
Business, 21.06.2019 20:30, pegflans314
Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests
Answers: 1
Business, 22.06.2019 16:10, ilovemusicandreading
The brs corporation makes collections on sales according to the following schedule: 30% in month of sale 66% in month following sale 4% in second month following sale the following sales have been budgeted: sales april $ 130,000 may $ 150,000 june $ 140,000 budgeted cash collections in june would be:
Answers: 1
Business, 22.06.2019 20:30, boog89
Mordica company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $156,960, $382,800, and $84,640, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,180, machine hours 25,520, and number of inspections 1,840. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection
Answers: 1
Qualified business income (qbi) deduction (lo 4.10)rob operates a small plumbing supplies business a...
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