Peter Samuels owns and manages his single member LLC that provides a wide variety of financial services
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Peter Samuels owns and manages his single member LLC that provides a wide variety of financial services to his clients. He is married and wall file a joint tax return with his spouse, Amy. His LLC reports $300,000 of net income, W-2 wages of $120,000, and assets with an unadjusted basis of $75,000. Their taxable income before the QBI deduction is $285,000 (this is also their modified taxable income). Determine their QBI deduction for 2018.
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Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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