Whispering winds corp. compiled the following financial information as of december 31, 2017: service revenue $1187000 common stock 247000 equipment 32 operating expenses 992000 cash 283000 dividends 85000 supplies 43000 accounts payable 154000 accounts receivable 109000 retained earnings, 1/1/17 565000 whispering stockholders’ equity on december 31, 2017 is

Your take on decision making process

Personal financial planning is the process of creating and achieving financial goals? true or false

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?