Qualified business income (qbi) deduction (lo 4.10)rob operates a small plumbing supplies business as a sole proprietor. in 2018, 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 2018. rob's wife, marie, has wage income of $250,000. they jointly sold stocks in 2018 and generated a long-term capital gain of $13,000. rob and marie have no dependents and in 2018, they take the standard deduction of $24,000.the income threshold for qbi limitations starts at $315,000 for married filing jointly taxpayers. a. what is rob and marie's taxable income before the qbi deduction? $b. what is rob and marie's qbi? $154,000what is rob and marie's qbi deduction? $** give explanation and not just the answer. you! **
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Business, 22.06.2019 21:20
Which of the following best describes vertical integration? a. produce goods or services previously purchasedb. develop the ability to produce products that complement the original productc. develop the ability to produce the specified good more efficiently than befored. build long term partnerships with a few supplierse. sell products to a supplier or a distributor
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Business, 23.06.2019 03:20
You have just made your first $5,500 contribution to your retirement account. assume you earn a return of 10 percent per year and make no additional contributions. a. what will your account be worth when you retire in 45 years? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. what if you wait 10 years before contributing?
Answers: 1
Qualified business income (qbi) deduction (lo 4.10)rob operates a small plumbing supplies business a...
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