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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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A house is for sale for $250,000. You have a choice of two 20-year mortgage loans with monthly payments: (1) if you make a down
Alex73 [517]

Answer:

The effective annual rate of interest on the additional $25,000 borrowed on the first loan is 12.95%

Explanation:

the loan amount is $250,000 and the period is 20 years.

1.

down payment of $50,000 and the interest rate is 6% per annum

the loan amount = $250,000 - $50,000

                            = $200,000

period = 20*12

           = 240 months

rate = 5%/12

       = 0.4167% per month

monthly payment = $1,319.91

difference between the payments in 1 and in 2 = 1611.97 - 1319.91

                                                                               = $292.06

additional down payment is $25,000

2.

down payment of $25,000 and the interest rate is 6% per annum

the loan amount = $250,000 - $25,000

                            = $225,000

period = 20*12

           = 240 months

rate = 6%/12

       = 0.5% per month

monthly payment = $1,611.97

difference between the payments in 1 and in 2 = 1611.97 - 1319.91

                                                                               = $292.06

additional down payment is $25,000

the effective annual rate = [(292.06/25000)*12]*100

                                         = 12.95%

Therefore, The effective annual rate of interest on the additional $25,000 borrowed on the first loan is 12.95%

8 0
3 years ago
A benefit of using a debit or credit card instead of cash is that it provides a paper record of a purchase. A proof of purchase
crimeas [40]
Hey there,

A benefit of using a debit or credit card instead of cash is that it provides a paper record of a purchase. A proof of purchase is often needed in all of the following situations except: Equipment rental
<span>
~Jurgen


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7 0
3 years ago
Read 2 more answers
The shareholders' equity of Green Corporation includes $232,000 of $1 par common stock and $430,000 par of 7% cumulative preferr
dalvyx [7]

Answer:

$8,700

Explanation:

Dividends payable to preferred shareholders = [($430,000*7%)*2 - ($23,000*2)] + ($430,000*7%)

Dividends payable to preferred shareholders = [$60,200 - $46,000] + $30,100

Dividends payable to preferred shareholders = $14,200 + $30,100

Dividends payable to preferred shareholders = $44,300

Dividend available to common shareholders = Total dividend - Dividends payable to preferred shareholders

Dividend available to common shareholders = $53,000 - $44,300

Dividend available to common shareholders = $8,700

So, the amount of dividends common shareholders will receive in 2021 is $8,700.

6 0
2 years ago
Individual profit earned by Dave, the oligopolist, depends on which of the following? (i) The quantity of output that Dave produ
UkoKoshka [18]

The options are:

(i) The quantity of output that Dave produces (ii) The quantities of output that the other firms in the market produce (iii) The extent of collusion between Dave and the other firms in the marketa. (i) and (ii)b. (ii) and (iii)c. (iii) only d. All of the above

Answer:

d. All of the above

That is

(i) The quantity of output that Dave produces

(ii) The quantities of output that the other firms in the market produce

(iii) The extent of collusion between Dave and the other firms in the market.

Explanation:

An oligopoly is defined as an economy where there are small number of firms that cannot prevent others from having much impact in the market. These firms control the way are done with regards for price.and supply of goods and services.

So in this type of market the profit earned by Dave will depend on quantity of output produced by Dave, quantity of goods manufacturerd by other firms, and Dave's degree of collusion with other firms.

7 0
3 years ago
Read 2 more answers
Calloway department store buys jackets for $19.75 each and sells them for $37.88 each. what is the markup rate based on cost?
Svet_ta [14]

Answer : The markup rate based on cost is 91.79747%.

We have

Selling price per jacket = $37.88

Cost per jacket = $19.75

Markup rate =[\frac{Selling Price - Cost}{Cost}] * 100

Substituting the values in the formula above we get,

Markup rate = [\frac{37.88-19.75}{19.75}] *100

Markup rate = [\frac{18.13}{19.75}] *100

Markup rate = 91.79746835%

8 0
3 years ago
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