1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ladessa [460]
3 years ago
13

Tammy, a single taxpayer, has a part-time job at BigCo, a company in which she has no ownership interest. In addition, she owns

and operates LittleCote, a sole proprietorship that is a qualified trade or business. Tammy is paid wages of $40,000 by BigCo, and reports $100,000 in qualified business income from Little. She has no other items of income or loss and $25,000 of itemized deductions. Assume the QBI amount is net of the self-employment tax deduction. What is her qualified business income deduction
Business
1 answer:
adoni [48]3 years ago
8 0

Answer:

Qualified business income deduction= $20,000

Explanation:

Section 199A of the Internal Revenue Code gives numerous citizens a conclusion to qualified business salary from a certified exchange or business worked straightforwardly or through a go through substance. People, trusts and bequests with qualified business salary, qualified REIT profits or qualified PTP pay may meet all requirements for the finding. QBI is the net measure of qualified things of salary, addition, derivation and shortfall from any certified exchange or business. The reasoning will be % of QBI.

Tammy shall get deduction of 20% of $ 100,000 = $ 20,000

You might be interested in
Hodor borrowed $1000. The bank charges him 5% interest per year. At the end of year, he paid $50 in interest. There was 2% incre
dem82 [27]

Answer:

5%

Explanation:

nominal interest rate = 5%

real interest rate = nominal interest rate -  increase in GDP deflator (inflation rate) = 5% - 2% = 3%

The nominal interest rate is the interest rate earned or charged without considering the effects of inflation. The real interest rate adjusts the nominal interest rate against the year's inflation rate.

5 0
3 years ago
A person who produces work in the vernacular is one who
balu736 [363]
Writes in their own language as used colloquially.
4 0
3 years ago
Eileen is considering assignments, training programs, and development opportunities that she will need in preparation for being
qaws [65]

<span>Eileen is in the development phase in terms of her career development. The development phase is where the person is starting and learning to develop the activities that he or she is involved in—in a way to show the person strengths and achieve things with the use of their performance.</span>

5 0
3 years ago
Read 2 more answers
Soy Products ​(Upper K​SP) buys soybeans and processes them into other soy products. Each ton of soybeans that Upper KSP purchas
galben [10]

Answer:

See attachment for 1 and 2

Explanation:

Number 2 (continuation)

ISP should process the soy meal into soy cookies because that increases profit by $263. However, ISP should sell the soy oil as is, without processing it into the form of Soyola, because profit will be $56 higher if they do. Since the total joint cost is the same under both allocation methods, it is not a relevant cost to the decision to sell at splitoff or process further.

5 0
3 years ago
George believes that Lillian is arrogant, because she is part of the LGP group. Because other members of the LGP group that Geor
slava [35]

Answer:

The correct answer is: The fallacy of composition.

Explanation:

The fallacy of composition refers to the usually mistaken idea that an individual has in which because a component of a whole is a certain way, the whole is that very certain way, too. The fallacy of composition is a simplified, subjective generalization that individuals come up with where there is not enough proof that the statement being provided is real.

Thus, <em>as George believes Lillian is arrogant because she is part of the LGP groups and George has met previous LGP members who are arrogant, he is assuming all LGP members are arrogant. George has fallen into the composition fallacy.</em>

5 0
3 years ago
Other questions:
  • Jagadison Co. leases computer equipment to customers under sales-type leases. The equipment has no residual value at the end of
    7·1 answer
  • The area of accounting that provides managers inside the organization with information they need to make decisions is called:
    8·1 answer
  • Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $54,000 and $2,400, r
    6·2 answers
  • The American Association of Individual Investors (AAII) has identified several qualitative factors that should also be considere
    5·1 answer
  • Soffia Inc. manufactures a moisturizing soap with anti-ultraviolet properties, which is sold under the brand name DewMist. The c
    9·2 answers
  • For capital budgeting and cost of capital purposes, the firm should always consider retained earnings as the first source of cap
    10·1 answer
  • Before the salespeople for Ascom Timeplex, Inc., set out to make a sales call, they use their laptop computers to dial into the
    8·1 answer
  • Holiday Laboratories Laboratories purchased a high speed industrial centrifuge at a cost of $420,000. Shipping costs totaled $15
    13·1 answer
  • Robert's credit card has a balance of $645.42, but the amount that he needs to pay to bring the card to a $0 balance is $1235.18
    14·1 answer
  • A furniture company using accrual accounting purchased 20 sofas in November 2011. In December 2011, 8 of the 20 sofas were sold
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!