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Kipish [7]
3 years ago
12

In 2019, Meghann Carlson, a single taxpayer, has QBI of $129,100 and modified taxable income of $103,280 (this is also her taxab

le income before the QBI deduction). Given this information, what is Meghann's QBI deduction
Business
1 answer:
victus00 [196]3 years ago
3 0

Meghann carlson QBI deduction is = $548,623

Solution:

The qualifying business income exclusion (QBI) referred to as Section 199A requires operators to receive up to 20 percent of their eligible business earnings for a tax deduction. It was implemented in the context of the Tax Cuts and Jobs Act 2017.

Since gross deduction for QBI deduction is set at 20% of lower of QBI ($129,100 ) or Taxable income($103,280)

So the lower is taxable income ,

i.e $103,280 × 20% ( 103,280 × 20÷ 100)

  = 20,656 ( 206.56 )

= $548,623

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the buyer has made an offer that the seller has accepted, and proper notice has been given to the buyer of the seller's acceptan
koban [17]

In a case whereby the buyer has made an offer that the seller has accepted, and proper notice has been given to the buyer of the seller's acceptance. the offer is now considered executory contract.

<h3>What is an executory contract?</h3>

An executory contract can be described as the  ongoing agreement that  two parties entered to, whereby they are responsible for completing certain obligations at set period of time.

It should be noted that  this written agreements ensure each party is clear about their o responsibilities, hence In a case whereby the buyer has made an offer that the seller has accepted, and proper notice has been given to the buyer of the seller's acceptance. the offer is now considered executory contract.

Learn more executory contract at:

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7 0
1 year ago
On January 1, a company issues bonds dated January 1 with a par value of $310,000. The bonds mature in 5 years. The contract rat
Elenna [48]

Answer:

The journal entry for the interest payment is shown below:

Explanation:

Interest Expense A/c........................Dr      $16,098

Premium on bonds payable A/c....Dr    $952

                 To Cash A/c............................Cr    $17,050

Working Note:

Interest expense = Bonds sale value × Market rate

                             = $321,964  × 5%

                            = $16,098

The market rate will be:

= 10 / 2

= 5%

Because it is paid semiannually, so rate is divided by 2.

Cash = Par value  × Contract rate

         = $310,000  × 5.5%

        = $17,050

The contract rate will be:

= 11 / 2

= 5.5%

Because it is paid semiannually, so rate is divided by 2.

3 0
3 years ago
Marcy listed her property with Jennings Homes in March. The market was slow, and Marcy's property isn't in great condition—thoug
Kitty [74]

Answer: Mutual agreement to terminate the listing

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7 0
3 years ago
Critical Thinking Questions Mauricio, a project manager at a reputed firm, has been assigned to handle a new project that the fi
patriot [66]

Answer:

These are the options for the question:

a. Gantter

b. Apptivo

c. Microsoft Project

d. Smartsheet

And this is the correct answer:

a. Gantter

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Apptivo and Microsoft Project are not cloud-based, instead, they have to be downloaded, thus, would not meet the first requirement that Maurio is looking for.

7 0
3 years ago
A number of activities that are a part of a company's quality control system are listed below:
KonstantinChe [14]

Answer:

Explanation:

A. Product testing - Appraisal cost

B. Product recalls - External Failure cost

C. Rework labor and overhead - Internal Failure cost

D. Quality circles - Prevention cost

E. Downtime caused by defects - Internal Failure cost

F. Cost of field servicing - External Failure cost

G. Inspection of goods - Appraisal cost

H. Quality engineering -  Prevention cost

I. Warranty repairs - External Failure cost

J. Statistical process control -Prevention cost  

K. Net cost of scrap - Internal Failure cost

L. Depreciation of test equipment - Appraisal cost

M. Returns and allowances arising from poor quality - External Failure cost

N. Disposal of defective products - Internal Failure cost

O. Technical support to suppliers - Prevention cost

P. Systems development - Prevention cost

Q. Warranty replacements -   Internal Failure cost

R. Field testing at customer site - Appraisal cost

S. Product design -  Prevention cost

2. Which of the four types of costs in (1) above are incurred in an effort to keep poor quality of conformance from occurring? Prevention costs and appraisal costs.

Which of the four types or costs in (1) above are incurred because poor quality of conformance has occurred?   Internal failure costs and external failure costs

4 0
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