What is jessica qualified business income deduction

Assignment Help Accounting Basics
Reference no: EM132741862

Question: Jessica is single and has taxable income of $305,000 of which $130,000 is attributable to her consulting sole proprietorship. She paid W-2 wages to her employees of $75,000. What is Jessica's qualified business income deduction?

Reference no: EM132741862

Questions Cloud

What non-inventory part items do not track merchandise : Types of line items you can use when you are filling out a sales form or purchase form. Non-inventory part items do not track merchandise that
Find ways to achieve economies of scope by leveraging assets : Find ways to achieve economies of scope by leveraging assets and capabilities across business units.
What is the maximum roth ira contributions : Brianne is single, age 46, and reported AGI of $129,000 in tax year 2019. She is an active participant in her employer's pension plan. What is the maximum Roth.
What recognize gain on reversal of share appreciation rights : When the market price was P110. As a result of the share appreciation rights, FAITH Co. shall recognize gain on reversal of share appreciation rights in 2021 at
What is jessica qualified business income deduction : Jessica is single and has taxable income of $305,000 of which $130,000 is attributable to her consulting sole proprietorship. She paid W-2 wages.
Influence team performance and productivity : Examine variables, conditions, and concepts that influence team performance and productivity.
Calculate the nance common stockholders received : Nance declared and paid a $90,000 cash dividend on December 15, 2017. If the company's dividends in arrears prior to that date were $24,000.
Find how principles of management accounting can utilized : Discuss how the principles of management accounting can be utilized. What specific managerial accounting activities would be useful?
Recommended and are punished for rating needs improvement : Bigger budgets for achieving a rating of "excellent" or "recommended" and are punished for rating "needs improvement."

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the annual rental expense

Junk Peddler Inc., leases its carts, which it uses to sell trinkets. Compute the annual rental expense if the lease is treated as an operating lease

  Determine the current portion of the note payable

Natalie and Curtis met with a bank manager to discuss their options. Determine the current portion of the note payable and the long-term portion of note payable

  What was its charge for depreciation and amortization

Nicholas Health Systems recently reported an EBITDA of $25.0 million and net income of $15.8 million. What was its charge for depreciation and amortization

  Calculate ted taxable income and tax refund

On the basis of this information, calculate Ted's taxable income and tax refund for the 2012/13 tax year

  What amount should action report as lease liability

The interest rate implicit in the lease, which was known by Action, was 9%. What amount should Action report as lease liability in its December

  What is morris tie ratio

What is Morris's TIE ratio? The Morris Corporation has $350,000 of debt outstanding, and it pays an interest rate of 8% annually.

  Calculate the overall overstatement of net income

Calculate the overall overstatement or understatement of net income if the above adjusting entries were not made. Please share your work

  What is the competitive strategy for Fowler Farm

The farmhands and the bookkeeper make $25,000 a year, and the mechanic makes $32,000 annually. What is the competitive strategy for Fowler Farm

  Agassi corp is preparing the comparative financial

agassi corp is preparing the comparative financial statements to be included in the annual report to stockholders.

  What are the two components of an agency net position

What are the two components of an agency net position? Describe the major causes of the year to year changes in each component.

  Nations shipping determined the rate to apply overhead

nations shipping determined the rate to apply overhead based on direct labor hours would be 8.40 and based on machine

  Compare different measures

Compare these different measures

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd