subject
Business, 08.10.2019 06:00 chartrow7

Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. this year, roquan had net business income of $90,000 from his law practice. assume that roquan pays $40,000 wages to his employees, he has $10,000 of property (unadjusted basis of equipment he purchased last year), and has no capital gains or qualified dividends. his taxable income before the deduction for qualified business income is $100,000. (leave no answer blank. enter zero if applicable.) required: calculate roquan’s deduction for qualified business income. assume the same facts provided above, except roquan’s taxable income before the deduction for qualified business income is $300,000.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 01:30
Iam trying to get more members on my blog. how do i do that?
Answers: 2
question
Business, 22.06.2019 07:00
Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.
Answers: 1
question
Business, 22.06.2019 11:00
Which statement best describes the variety of workplaces commonly found in the health science career cluster? a. workplaces in this cluster include healthcare facilities such as hospitals, physician offices, and clinics. b. workplaces in this cluster include healthcare facilities, laboratories, and other environments such as offices or homes. c . workplaces in this cluster include nonprofit hospitals, government-run clinics, and private physicians' offices. d. workplaces in this cluster include private and nonprofit hospitals and clinics, and dentists' offices.
Answers: 1
question
Business, 22.06.2019 13:50
Classify each of the following items as a public good, a private good, a natural monopoly good, or a common resource.(a) measles vaccinations (b) tuna in the pacific ocean (c) airline service in the united states (d) local storm-water system
Answers: 1
You know the right answer?
Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. this year, roquan had...
Questions
question
Spanish, 10.12.2020 17:50
question
Arts, 10.12.2020 17:50
question
Mathematics, 10.12.2020 17:50
question
Social Studies, 10.12.2020 17:50
question
Mathematics, 10.12.2020 17:50
question
Mathematics, 10.12.2020 17:50
question
Mathematics, 10.12.2020 17:50