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vodomira [7]
3 years ago
7

Which of the following are included in qualified business income (QBI)? (All income is effectively connected with a trade or bus

iness in the U.S.)
Betty's Form W-2 wages received from an S corporation.

Tom's guaranteed payments from a partnership.

Jane's Schedule C net profit.

Qualified Publicly Traded Partnership (PTP) income.
Business
1 answer:
Elina [12.6K]3 years ago
3 0

Answer:

The correct answers are letters "C" and "D": Jane's Schedule C net profit;  Qualified Publicly Traded Partnership (PTP) income.

Explanation:

The Qualified Business Income Deduction or QBI allows up to 20% of deductions for people who file small businesses taxes in personal statements.  The rule mainly applies to all those activities developed in a sole proprietorship. Capital gains, losses, dividends, and interest are not eligible for this type of deductions. A schedule C (form 1040) or a qualified Publicly Traded Partnership (PTP) income can be subject to this deduction.

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When it comes to saving money, what is a good rule of thumb?
mash [69]
Think this is a keep most of your saving in your checking account
3 0
3 years ago
According to AU-C 315, Understanding the Entity and its Environment and Assessing the Risks of Material Misstatement, not all co
ankoles [38]

Answer:

The correct answer is B. Maintenance of control over unused checks.

Explanation:

Risk of material misstatement is the risk that the financial statements contain material misstatements prior to the performance of the audit. The risk comprises two components, described as follows, in the statements:

Inherent risk - Susceptibility of a statement about a type of transaction, accounting balance or other disclosure of information to a misstatement that could be material, either individually or in aggregate with other inaccuracies, before taking into account the possible corresponding controls.

Control risk - Risk that an error that could exist in a statement about a type of transaction, accounting balance or other information relief, and that could be material either individually or in aggregate with other inaccuracies, is not prevented, or detected and corrected in a timely manner, by the entity's internal control system.

5 0
3 years ago
A grant seeker is considering a project that involves providing more low-calorie, fiber-rich foods to low-income families. What
BigorU [14]

Answer:

C) a local school district

Explanation:

Many school districts already carry out similar policies through Local School Wellness Policy programs. Malnutrition negatively affects kids the most and that is why school districts are currently trying to fight it. Malnutrition is not simply not eating enough food, it means not eating nutritious food at the right amounts. Obese children can suffer from malnutrition, while a slender kid can have a proper and balanced nutrition.

So if someone is seeking for a grant to fight malnutrition, they should go to their local authorities first and get in touch with the school district.

4 0
3 years ago
Suppose that a cafe enjoys a large increase in customers whenever the jazz club next door features a band playing appealing musi
Stells [14]

Answer:

The answer is "Option 2".

Explanation:

please find the complete question in the attached file.

When a person does have an advantage for many other people’s perspectives, the additional factor is optimistic. The jazz club manager decides to purchase the cafe so that he can truly understand it. It can be accomplished through the integration of various business types. It a single individual formulates from of the situation Strong exogenous shock through the convergence of multiple business forms.

4 0
3 years ago
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:
Orlov [11]

Answer: $54,000

Explanation:

Referring to the data regarding store operation given above, difference between cash receipt and cash disbursement for December could be calculated as follows;

December Cash receipt = (340,000*20%+320,000*80%) = 324,000

November Purchases = (340,000 × 75%)+(320,000 × 75% × 60%) - 153,000 = 246,000

December Cash payment = 246,000 +240,000 = 270,000

The difference between cash receipts and cash disbursement for December = 324,000 - 270,000 = 54,000

6 0
3 years ago
Read 2 more answers
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