Susanna is single with taxable income in 2019 of $188,225 of which $130,000 is attributable to her

Question:

Susanna is single with taxable income in 2019 of $188,225 of which $130,000 is attributable to her consulting sole proprietorship. She paid W-2 wages of $60,000 to her employees. Compute her qualified business income deduction.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Taxation For Decision Makers 2020

ISBN: 9781119562108

10th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

See More Books

Question Posted: Jul 27, 2023 03:41 AM

See More Questions

Susanna is single with taxable income in 2018 of $185,000 of which $130,000 is attributable to her consulting sole proprietorship. She paid W-2 wages of $60,000 to her employees. Compute her...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
The Kc for the following reaction is 9.30 X 10^-2 at 25C:PCl5(g) <-> PCl3(g) + Cl2(g) How many moles & grams of PCl5 must be added to a 2-literflask to obtain a Cl2 concentration of 0.150M...
As part of the budgeting process, Northview Corporations CFO is developing the overhead budget for next year for its Evans Division. The division estimates that it will manufacture 150,000 units...
A race car rounds a curve at 60 m/s. The radius of the curve is 400 m, and the cars mass is 600 kg. (a) What is the cars (centripetal) acceleration? What is it in gs? (b) What is the centripetal...
What are the different types of consulting and litigation support activities for fraud and forensic accounting professionals?
The table below gives the balance sheet for Travellers Inn Inc. (TII), a company that was formed by merging a number of regional motel chains. The following facts also apply to TII.(1) Short-term...
Schematic below represents a given circuit with two inputs A and B 2-bits each and 2 outputs Sum_reg and Carry_reg 2-bits each as wee. At every rising edge of the clock, the circuit will add two...
Refer to the information in problems 29 and 50. a. Go to the IRS website (www.irs.gov) and print out the first page and K for Form 1065. Use the information in problem 29 to complete these two to the...
Jenkins Corporation had $675,000 of taxable income for 2018 and $575,000 for 2019. What is the minimum amount that it must submit for each estimated quarterly tax payment to avoid any penalty for...
Verify that the following functions satisfy the conditions of Theorem 4.5 on their domains. Then find the location and value of the absolute extremum guaranteed by the theorem. f(x) = 4x + 1/1x
Compare various ways to use touch gestures to drag and scale on-screen objects, using onTouchEvent(), in order to intercept touch events. In your post, Explain how various touch movements or events...
When a company creates a situation where the firms in an industry continue to improve products or services to the point where they are actually better than a sizable portion of their clientele's...
What are some strengths and weaknesses about a new product sleep lotion? What would be the SWOT analysis? What would be the compeititon? ( use resources)
You are asked to complete an investigation into the efficiency of removal of your toilet. The bowl hold 5 liters of water. When you flush almost all flows out, but some does remain. You inject dye...
The array spacing is 5D by 10D, for 1 MW wind turbines, 60 m diameter. a. How many turbines can be placed in a square kilometer? b. Assuming the average wind power potential is 500 W/m2 at 50 m...
Suppose a random sample of 100 observations from a binomial population gives a value of p = .69 and you wish to test the null hypothesis that the population parameter p is equal to .75 against the...
Suppose that you are part of a virtual team and must persuade other team members on an important matter (such as switching suppliers or altering the project deadline). Assuming that you cannot visit...
Mark's employer pays 55 percent of the premiums for a disability insurance policy and Mark pays for the other 45 percent. The policy pays Mark 65 percent of his normal salary in the event he is...
Mark's employer pays 55 percent of the premiums for a disability insurance policy and Mark pays for the other 45 percent. The policy pays Mark 65 percent of his normal salary in the event he is...
Sara receives a $5,500 per year scholarship to attend the state university. Sara spends $4,000 for tuition, $500 for required textbooks and $1,000 for room and board. Sara also has a part-time job on...
Maurice has a savings account that earns 3% simple interest per year and a money market account that earns 3.5% simple interest. At the end of one year, Maurice received $34 in interest on a total...
Lin's job pays $12.50 an hour.She also gets paid $25 a week to cover uniform cleaning and other expenses.To meet her budget, Lin needs to be paid at least $300 a week. Represent this situation...
Data for selected years from 2011 and projected to 2023 can be used to show that the balance of federal direct student loans y, in billions of dollars, is related to the number of years after 2010,...

Susanna is single with taxable income in 2019 of $188,225 of which $130,000 is attributable to her

Question:

Step by Step Answer:

11700 Because her taxable income exceeds the 160725 threshold by 27500 55 27500 excess abov...View the full answer

Taxation For Decision Makers 2020

Students also viewed these Business questions