Answer: A corporation is a legal entity that is separate and distinct from its owners.
Answer:
Elliot's qualified business income deduction is $28,000.
Explanation:
total income
= share in specified service business income + wages of wife
= 280000*50% + $90000
= $230,000
taxable income before QBI = total income - standard deduction
= $230,000 - $24,000
= $206,000
QBI deduction is lesser of:
- 20% of qualified business income
= $140,000*20%
= $28,000
Therefore, Elliot's qualified business income deduction is $28,000.
The answer is
D. Debit Cash $2,000; debit Equipment $4,000; credit Nathan’s Capital $6,000
Answer:
Auditing:conduct an official financial inspection of (a company or its accounts).
taxation : Taxation is the means by which a government or the taxing authority imposes or levies a tax on its citizens and business entities. From income tax to goods and services tax (GST), taxation applies to all levels.
environmental accounting : Environmental accounting is a field that identifies resource use, measures and communicates costs of a company's or national economic impact on the environment.
forensic accounting: Forensic accounting is a combination of accounting and investigative techniques used to discover financial crimes. One of the key functions of forensic accounting is to explain the nature of a financial crime to the courts.
hope it helps