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Len [333]
4 years ago
15

Tanuja Singh is a CPA and operates her own accounting firm (Singh CPA, LLC). As a single-member LLC, she reports her accounting

firm operations as a sole proprietor. Tanuja has QBI from her accounting firm of $540,000, reports W-2 wages of $156,000, and the unadjusted basis of property used in the LLC is $425,000. Tanuja is married and will file a joint tax return with her spouse. Their taxable income before the QBI deduction is $475,000, and their modified taxable income is $448,000. What is Tanuja's QBI deduction for 2019.
Business
1 answer:
AnnyKZ [126]4 years ago
6 0

Answer:

Tanuja is not entitled to a QBI deduction in 2019.

Explanation:

Tanuja has QBI from her accounting firm of $540,000

W-2 wages = $156,000

Unadjusted basis of property used in the LLC = $425,000

Taxable income before the QBI deduction = $475,000

Modified taxable income = $448,000.

Her accounting firm is a "specified services" business and she and her spouse's taxable income before the QBI deduction is $475,000, which exceeds the threshold for 2019.

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Answer:

Got this from the same website you used

Explanation:

Advances in technology like the creation of cheap, lightweight laptops have allowed workers to work from almost anywhere. TRUE.

5 0
3 years ago
Cartels: a. encourage competition. b. attempt to restrict output in order to raise prices. c. rely on legally enforceable contra
Dovator [93]

Answer:

B- Attempt to restrict output in order to raise prices.

Explanation:

Cartels is similar to a group in which every member is a giant producer together they control how much product will go in the market or how much price would be charged.

<em>So</em> the basic aim of cartels is to control the prices and to achieve that there are various methods they can use, one of these methods is: They will stop the product create a shortage, and then increase up the charges.

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3 years ago
How long can foodborne illnesses last
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3 years ago
Ballpark Sportsfield, Inc., files a suit against Concessions &amp; Tailgate Services. The document that informs Concessions &amp
madam [21]

Answer:

The Summons.

Explanation:

A summons is a legally binding document provided for different purposes by a judge or by a law administrative agency.

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3 years ago
Journalize the following transactions for Roberts Company. Assume a perpetual inventory system. Also, assume a constant gross pr
astraxan [27]

Answer:

Aug 6.   Dr cash          $14,000

             Cr Sales                          $14,000

Aug,6   Dr Cost of goods sold      $8,400

            Cr Merchandise inventory              $8,400

August 12  

                 Dr Sales returns      $1,560

                  Cr Cash                               $1,560

August 12

              Dr Merchandise inventory  $936

              Cr Cost of goods sold                     $936

Explanation:

In the first place,the goods sold for cash of $14,000 means that cash account is debited and sales is credited with $14,000

However,with respect to cost of goods sold,there would a debit of $8,400 and credit of the same amount  to merchandise inventory.

The goods returned returned would necessitate debit of sales return with $1,560 and credit to cash of the same amount.

The cost of goods returned  is $936  ($1,560*$8400/$14,000) should debited to merchandise inventory and a credit to costs of good sold

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3 years ago
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