Elliot and conrad (a two-member llc) operated a consulting firm (a "specified services" business). the business is equally owned and the two are not related. the business generates net income of $280,000, pays w–2 wages of $170,000, and has qualified business property of $140,000. elliot's wife, julie, is an attorney who works for a local law firm and receives wages of $90,000. they will file a joint tax return and use the standard deduction of $24,000. conrad's wife, jessica, earned wages during the year of $350,000, and conrad and jessica have itemized deductions of $62,000 and will file a joint return.

a. what is elliot's qualified business income deduction?

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u. s. company and i don’t make decisions based on what’s good for the u. s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november. materials conversion costs total equivalent units