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Rob Wriggle operates a small plumbing supplies business as a sole proprietor. In 2019, the plumbing business has gross business income of $421,000 and business expenses of $267,000, including wages paid of $58,000. The business sold some land that had been held for investment generating a long-term capital gain of $15,000. The business has $300,000 of qualified business property in 2019. Rob's wife, Marie, has wage income of $250,000. They jointly sold stocks in 2019 and generated a long-term capital gain of $13,000. Rob and Marie have no dependents and in 2019, they take the standard deduction of $24,400.
Question a. What is Rob and Marie's taxable income before the QBI deduction?
Question b. What is Rob and Marie's QBI?
Question c. What is Rob and Marie's QBI deduction?
Evaluate the stock market performance of firms who manufacture accounting software products. Your evaluation will be based on large- and medium-market firms
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