Justin is single and has taxable income of $190,000 of which $140,000 is attributable to his consulting

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Justin is single and has taxable income of $190,000 of which $140,000 is attributable to his consulting sole proprietorship. He paid W-2 wages to his employees of $60,000.
a. What is Justin’s qualified business income deduction?
b. How would your answer change if Justin’s taxable income was instead $300,000?
c. How would your answer change if Justin’s taxable income was instead only $155,000?

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Taxation For Decision Makers 2019

ISBN: 9781119497288

9th Edition

Authors: Shirley Dennis Escoffier, Karen A. Fortin

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