Ben and Molly are married and will file jointly. Ben generates $300,000 of qualified business income from his single-member LLC (a law firm). He reports his business as a sole proprietorship. Wages paid by the law firm amount to $40,000; the law firm has no significant property. Molly is employed as a tax manager by a local CPA firm. Their modified taxable income is $381,400 (this is also their taxable income before the deduction for qualified business income). Determine their QBI deduction for 2019.

Answers

Answer 1

Answer:

$14,400

Explanation:

QBI deduction can be as much as 20% of QBI but it cannot exceed 20% of taxable income before QBI deduction and/or capital gains.

QBI deduction also starts to phase out if the couple's income is higher than $321,400 (for 2019).

phase out = 1 - [($381,400 - $321,400) / $100,000] = 1 - 0.6 = 40%

we must choose the higher between:

tentative QBI deduction based on W-2 wages = 50% x $40,000 x 40% = $8,000

                     or

QBI deduction based on capital investment limit = (25% x $40,000 x 40%) + $0 (no qualified property) = $4,000

allowable QBI deduction:

($300,000 x 20% x 40%) - {[($300,000 x 20% x 40%) - $8,000] x (1 - 40%)} = $24,000 - [($24,000 - $8,000) x 0.60] = $24,000 - $9,600 = $14,400


Related Questions

Joe, Jeff and Jerry Frank own Frank Brothers Farm, a seed company specializing in seed corn. At their weekly meeting they tried to calculate the portion of the farm's overhead expenses that is fixed and the portion that is variable. Over the past twelve months, the number of bushels of seed corn that has been sold reached its peak in May, when the total monthly overhead costs totaled $290,000 for 90,000 bushels of seed corn sold. The lowest number of bushels sold in the last twelve months occurred in December, when total overhead costs were $70,000 for 10,000 bushels sold. What is the fixed portion of the monthly overhead expenses?

Answers

Answer:

Fixed costs= $42,500

Explanation:

Giving the following information:

May:

Total monthly overhead costs totaled $290,000 for 90,000 bushels of seed corn sold.

December:

Total overhead costs were $70,000 for 10,000 bushels sold.

To calculate the fixed component, we need to use the high-low method.

First, the variable component:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (290,000 - 70,000) / (90,000 - 10,000)

Variable cost per unit= $2.75

Now, the fixed costs:

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 290,000 - (2.75*90,000)

Fixed costs= $42,500

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 70,000 - (2.75*10,000)

Fixed costs= $42,500

When gathering information about an industry, pay attention to whether it is a growth industry. What does this mean?

Answers

Answer:

Explanation:d. an industry that is growing and adding jobs which means it may be easier to get work

Trade Barriers decrease the number of goods people can choose from.
True or false ?

Answers

Heyy I don’t know but I could give you some resources that I found helpful for that answer:quizlet and wolfram alpha

ten opinions on "discipline and successful life"​

Answers

Answer:

graditude

forgiveness

meditation

active goal setting

eat healthy

sleep

exersize

organisation

time management

persistance

Will cash bonuses speed the return to work of unemployed people? A state department of employment security notes that last year 68% of people who filed claims for unemployment insurance found a new job within 15 weeks. As an experiment, the state offers $500 to people filing unemployment claims if they find a job within 15 weeks. The percent who do so increases to 77%.

Answers

Answer:

Apparently handing out a cash incentive for getting a job when you are unemployed really works. A 9% increase in the number of unemployed people getting a new job is significant.

But this hypothesis has a flaw. Is there any way that you can tell if people quit on purpose just to be able to file for unemployment and get the cash bonus? Unemployment benefits vary a lot depending on the state, but the national average is $378 per week. If you multiply that by 4¹/₂ weeks per month = $1,701 (roughly). It is not a fortune, but its not that bad either.

If we add the extra $500 cash bonus to the total unemployment benefits, in 15 weeks a person could earn $500 + (15 x $378) = $6,170 for not working.

It doesn't make sense for someone earning a high salary to quit just to get unemployment benefits, but being unemployed pays you $6,170 / (15 x 40 hours) = $10.28 per hour and that is more than the minimum wage.

When do you think is the first point where you will first need to get life insurance?

Answers

1.You need to get life insurance when someone depends on your income.
2. Age so for retirement reasons
3.Health conditions
4.your partner or you is about to give birth or has a newborn

Determine the mean for the following raw scores of a pretest used in a marketing research study: 82, 83, 25, 29, 31, 82, 30, 90, 56, 76, 40, and 45. *

Answers

Answer:

55.75

Explanation:

Mean is the average score in the marketing data. It is obtained by first finding the total of all the data. The total is then divided by the number of entries.

The total for this data is 82 +83 + 25 + 29 + 31 + 82+ 30 +90+ 56, 76 +40+ 45= 669

The mean will be 669 divided by 12

=669/12

=55.75

which of the following is also known as profit and loss statement?
net worth ledger
liability statement
income statements
transaction ledger

Answers

Income statement
A financial statement that outline the revenues and costs during a period of time.

Another name for the profit and loss statement is the income statement.

The income statement is a financial statement that is used to record a firm's income and expenses in a given year. It contains information on the total profit or loss of a firm.

A balance sheet is a financial statement that contains information on a  reports company's assets, liabilities and shareholders' equity at a point in time.

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The more employees can do, the less they have to be managed by supervisors.
True or false?

Answers

Answer:

true

Explanation:

The sentence - "The more employees can do, the less they have to be managed by supervisors" is true.

What is supervisors?

A supervisor, often known as a leader, is a lower-level management role with control over employees or a workplace. A supervisor can also be one of the most senior members of the organization's employees, such as a professor who monitors a PhD dissertation.

Customers are subjected to lengthy waits, while staff are left feeling disempowered if managers had lot to do than employees.  A second possible reason is an excessive number of supervisory levels. Unnecessary supervisors generate work while reducing efficiency and productivity. Companies frequently underestimate the true cost of all those supervisors.

Therefore, it can be concluded that above sentence is true.

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What savings account generally pays the least amount of interest of all savings options?
account

Answers

Answer:

Regular savings accounts

Explanation:

Regular savings accounts are also called deposit savings accounts. They are the easiest way to save money in a bank or credit union and receive interest. These types of accounts require a small deposit to open, and the minimum balance is also low. One can avoid monthly charges by maintaining the minimum balance at all times.

The deposit/regular savings accounts are very liquid. Most banks will not have restrictions on the number of deposits and withdrawals per period, say a month. Due to this feature, these accounts earn the lowest interest compared to the other savings accounts. Deposit/ regular accounts are also referred to as transactional savings accounts.  

The other types of savings accounts include Money market accounts and Certificates of deposit accounts.

SOMEONE HELP PLEASEEE ME AND MY MOM HAS BEEN ON THIS QUESTION FOR AN HOUR

When does information become a liability

A. when it's not managed properly

B. when there are fewer people to collect information

C. when information is not stored in paper documents

D. when information us not stored in electronic documents​

Answers

Answer:

The answer is A. When its not managed properly

he Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel’s business is highly seasonal, with peaks occurring during the ski season and in the summer. Month Occupancy-Days Electrical Costs January 3,240 $ 8,622 February 3,060 $ 8,228 March 1,150 $ 3,910 April 2,260 $ 7,684 May 4,310 $ 10,984 June 1,270 $ 4,318 July 3,410 $ 9,418 August 640 $ 2,176 September 1,310 $ 4,454 October 3,760 $ 9,738 November 1,330 $ 4,522 December 2,570 $ 7,868 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.)

Answers

Answer:

Fixed costs= $640

Variable cost per unit= $2.4

Explanation:

Giving the following information:

Month Occupancy-Days Electrical Costs

January 3,240 $ 8,622

February 3,060 $ 8,228

March 1,150 $ 3,910

April 2,260 $ 7,684

May 4,310 $ 10,984

June 1,270 $ 4,318

July 3,410 $ 9,418

August 640 $ 2,176

September 1,310 $ 4,454

October 3,760 $ 9,738

November 1,330 $ 4,522

December 2,570 $ 7,868

To calculate the unitary variable cost and the fixed cost under the high-low method, we need to use the following formulas:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (10,984 - 2,176) / (4,310 - 640)

Variable cost per unit= $2.4

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 10,984 - (2.4*4,310)

Fixed costs= $640

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 2,176 - (2.4*640)

Fixed costs= $640

What are desirable qualities for office assistants to have?

Answers

Answer:

Good communication skills.

Organization skills.

Team player.

Interpersonal communication skills.

Detail oriented.

Positive, can-do attitude.

Flexible.

Ability to prioritize.

Explanation:

what is the relationship between price and the quantity of gasoline demanded

Answers

Answer:

In the study, Espey examined 101 different studies and found that in the short-run (defined as 1 year or less), the average price-elasticity of demand for gasoline is -0.26. That is, a 10% hike in the price of gasoline lowers quantity demanded by 2.6%. In the long-run (defined as longer than 1 year), the price elasticity of demand is -0.58.

Explanation:

What is one major effect of specialization on an economy?
O A. Self-sufficiency becomes more important as many businesses
shut down.
B. Opportunity costs for trade rise as businesses are slow to change.
C. Labor becomes more divided as workers focus on certain skills.
D. Voluntary exchange declines as fewer countries can trade
internationally.

Answers

Answer: It’s C

Explanation: read it before you check it because the order might be different in different test.

The one major effect of specialization on an economy is that the Labor becomes more divided as workers concentrate on definite skills.

What is specialization in an economy?

Specialization is a manufacturing method in which an organization concentrates on producing a narrow range of products in order to increase efficiency.

Specialization has one cardinal determinant on an economy, that the labor becomes more and more divided as workers focus on specific abilities.

Therefore, option C is correct.

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what planet are called terrestrial​

Answers

Answer:

The planets Mercury, Venus, Earth, and Mars, are called terrestrial because they have a compact, rocky surface like Earth's terra firma. The terrestrial planets are the four innermost planets in the solar system.

Explanation:

The planets Mercury, Venus, Earth, and Mars, are called terrestrial because they have a compact, rocky surface like Earth's terra firma. The terrestrial planets are the four innermost planets in the solar system.

Answer:

that would be the inner four planets-mercury, venus, Earth, and Mars

Explanation:

Terrestial means a planet that has a rocky surface and the only planets that have rocky surfaces are Mercury, Venus, Earth, and Mars, so the answer to your question is, Mercury, Venus, Earth, and Mars are called terrestrial planets.

One-year Treasury bills currently earn 1.45 percent. You expect that one year from now, 1-year Treasury bill rates will increase to 1.65 percent. If the unbiased expectations theory is correct, what should the current rate be on 2-year Treasury securities? (Round your answer to 2 decimal places.)

Answers

Answer:

1.55%

Explanation:

Computation of current rate to be on 2-year Treasury securities

Current rate (2) = ((1 + Current rate(1)) * (1+After a year rate(1))^(1/2) - 1

= ((1+1.45%)*(1+1/65%))^(1/2) - 1

= ((1+0.0145)*(1+0.0165))^(1/2) - 1

= ((1.0145)*(1.0165))^(1/2) - 1

= 1.03123925^(1/2) - 1

= 1.01549950763 - 1

= 0.01549950763

= 1.549951

= 1.55%

Thus, the current rate on 2-year treasury will be 1.55%

You have an idea for a company that sources fruits from local farms and makes fresh juices on a daily basis. You want to start a subscription-based service in which households within a 100-mile radius subscribe to your plan and receive two gallons of freshly squeezed juice (for example, cherry juice, apple juice, lemonade) twice a week. As you think about starting your business, you ask yourself: Am I being responsive to the customer? Is it innovative? Can I offer a quality product? After asking these questions, review and identify which question you forgot to ask that would give you a sustainable advantage.

Answers

Answer:

Can others imitate my service easily or not? (or some other question related to imitability)

Explanation:

You should analyze this idea using the VRIO (Value Rarity Imitablility Organization) framework.

Am I being responsive to the customer? ⇒ ValueIs it innovative? ⇒ RarityCan I offer a quality product? ⇒ OrganizationImitability ?????

Imitability basically refers to how easily your product or service can be copied by the competition. Can other companies offer the same or similar products? e.g. fruit juices or other beverages like milk, or even yogurt or salad, etc.

2- Dose the first African- American women to lead a major U.S. corporation face special challenges?

Answers

Answer:

yes

Explanation:

in business everybody have to face challenges, it may be special or not

in order to expand our business and make it progress.

Yes what the guy said on top the us african stranger us corporation

A traditional cover letter’s format includes an introduction, a __________and a_____________ paragraph.

Answers

A traditional cover letter’s format includes an introduction, a body and a closing paragraph.

A traditional cover letter’s format includes an introduction, a body, and a closing paragraph.

When applying for employment, you should include a cover letter with your CV. In addition to selling your application, it serves as a personal introduction.

Cover letters are required since they allow you to explain to an employer why you are the ideal applicant for the position.

The majority of your cover letter's content should be factual, with no fluff or generalizations.

Therefore, a standard cover letter has three paragraphs: an introduction, a body, and a conclusion.

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Whitney deposits for two years. She compares two different banks. State Bank will pay her 4.1% interest, compounded monthly. Kings Savings will pay her 4.01% interest, compounded
continuously.

Answers

Answer:

State Bank,$16.21

Explanation:

Result part (a): $767.74

Result part (b): $751.53

we note that the results of part (a) is higher and thus State Bank earns more interest.

we are also interested in the difference of the interest:

$767.74 - $751.53 = $16.21

Thus State Bank will result in $16.21 more interest.

A sound savings program and adequate insurance protection form the foundation of financial security.
True or false

Answers

Answer:

True

Explanation:

Financial security is the satisfaction that one has sufficient money to meet their daily expenses, cover for emergencies, and work towards meeting their financial goals. Achieving financial security is a long-term goal for many individuals and organizations. Meeting this objective requires following certain principles.

A savings plan and insurance are some of the foundations for achieving financial security. Saving helps one attain financial goals, while insurance is essential in case of emergencies. Having a personal financial plan, with or without a personal finance manager, is another vital element in achieving financial security.

The article discusses how it is good to be near a trading partner—especially a rich trading partner—for two reasons: a) it is cheaper to trade with a close trading partner than one that is far away and b) a rich trading partner offers more opportunities for trade than a poor one. As the article points out, Germany benefits as the neighboring country, France, becomes wealthier.Consistent with this argument, the states on the West Coast of the United States have seen rapid economic growth asEast Asia has experienced rapid economic growth.2-In contrast, states along the East Coast should see slow economic growth and possibly even a decline as the economy ofEurope stagnates.

Answers

Please find article attached

Answer and Explanation:

1. East Asia

2. Economy of Europe

1. the article suggests countries near industrialized and rapidly growing economies tend to tap from the economic success of their neighboring countries just like west coast USA taps from East Asia rich economy

2. The economy of Europe if stagnating will in contrary cause stagnating growth to East Coast USA as opposed to the west which is closer to Asia

Stage plays are classified as a form of written work under copyright law.
True
False

Answers

Answer:

Explanation:the correct answer is true thanks for the help

Answer:

The answer is false

Explanation:

I got it wrong on the test so false is the correct answer :)


What kind of location appears temporarily, and then disappears?

Answers

Answer:

pop up retail location

Explanation:

Which problem is more likely to affect a partnership than a corporation?
O A. It is overly expensive and complicated to get started.
O B. Shareholders may remove the owners from the company.
O C. There are too many legal regulations controlling the business.
O D. Owners have unlimited liability if the business fails

Answers

Answer:

D

Explanation:

Partnerships often leave the owners liable to damages. As they aren’t difficult to set up in comparison, the answer most likely isn’t A. B also seems unlikely, as partnerships are often on a smaller scale. C doesn’t seem to apply.

Answer:

D

Explanation:

Match each career path with the CTSO that can help further the goals for that path.

Tiles

A.SkillsUSA

B. Business Professionals of America

C.Family, Career and Community Leaders of America

D.Health Occupations Students of America

E.National FFA Organization


Pairs

1. Andrey wants to pursue a career in farming.

2. Betty dreams of becoming a computer engineer.

3. Cynthia wants to pursue a career in the IT industry.

4. Daphne wants to be a nurse.

5. Ethan seeks a job in politics.

Answers

Explanation:

Remember, CTSO which stands for Career and Technical Students Organization is an organization that aids students in acquiring technical education and in achieving their career objectives.

Here's a match of each career path with the most appropriate CTSO that can help:

Skills USA ⇒ Cynthia wants to pursue a career in the IT industry

Business Professionals of America ⇒ Betty dreams of becoming a computer engineer.  

Family, Career, and Community Leaders of America ⇒ Ethan seeks a job in politics.

Health Occupations Students of America ⇒ Daphne wants to be a nurse

National FFA organization: ⇒ Andrey wants to pursue a career in Farming.

Note: The above conclusions were made after visiting the websites of the CTSOs to determine their objectives.

Answer:

Andrey wants to pursue a career in framing - National FFA Organization

Betty dreams of becoming a computer engineer - SkillsUSA

Cynthia wants to pursue a carerre in the IT industry - Business Professionals of America

Daphne wants to be a nurse - Health Occupations Students of America

Ethan seeks a job in politics - Family, Career and Community Leaders of America

Explanation: this is correct on edmentum / plato

According to information in the Washington Post article "The retirement costs that are rising faster than Social Security benefits" by how much has retirees' nominal income risen since the year 2000, if Social Security benefits are the only source of income for retirees? % By how much has retirees' real income derived from benefits fallen since 2000? % Can retiress in 2015 purchase more, fewer, or the same quantity of goods and services with their social security benefits as retiress in 2000 could? the same quantity of By how much would benefits had to have risen to maintain a constant real income for retirees? %

Answers

Answer:

if Social Security benefits are the only source of income for retirees by how much has retirees' real income derived from benefits fallen since 2000?

22%

In nominal terms social security benefits increased by 43% from 2000 to 2015. Social security benefits are adjusted by the CPI, the problem is that the CPI doesn't measure many costs that retirees face but most younger people don't. E.g. the CPI weighs heavily gas and transportation which are expenses that are not significant to retirees but doesn't include Medicare premiums. Housing costs also increase when you are retired and they do not weigh that much in the CPI.

Can retirees in 2015 purchase more, fewer, or the same quantity of goods and services with their social security benefits as retirees in 2000 could?

fewer goods

how much would benefits had to have risen to maintain a constant real income for retirees?

21.6%

the average social security benefit in 2000 was $816, in 2015 it was $1,166. In order for retirees to be able to maintain their purchasing power, they should have increased to $1,418 in 2015 (a $252 increase, or 21.6%)

Which of the following is an example of an equity investment?
A Aloan
B A company bond
C A government bond
DA company's stock

Answers

Answer: The answer is D. A companys Stock

Explanation: Just got it correct on Edg

Mark me down as brainliest!?

Answer:

D, a company's stock

Explanation:

edg2020

Purchasing, sales, and merchandising are all related careers. What do they have
in common?

Answers

Explanation:

They all have a cycle, and have something to do with money. The merchandisers promote the items, people sell them , and purchasers buy them. Simple.

Answer:

i agree with her/him They all have a cycle, and have something to do with money. The merchandisers promote the items, people sell them , and purchasers buy them.

Explanation:

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When it comes to political ideology, Republicans are typically considered ? Brief summary of Battle of manzikert For each line, determine whether the slope is positive, negative, zero, or undefined.Line 1Line 2Line 3Line 4O PositiveNegativeO ZeroO UndefinedO PositiveO NegativeO ZeroO UndefinedO PositiveO NegativeO ZeroO UndefinedO PositiveO NegativeO ZeroO Undefined Why is referring to the middle ages as the dark ages seen as a Eurocentric point of view? Can Somebody please help me with this question not sure what it means by the Eurocentric point of view please and thank you natalia is studying a wave produced in her magnetics lab.This wave can move through the empty space in a vacum and carries a lot of energy. What wave is natalia most likley studyinga sound wavean ocean wavea gamma rayan earthquake shock wave answer , NOW. PLSI NEEDSOMEONETO ANSWER. NOW. Somebody please help! On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $113 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31, beginning in 2022. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $). Determine the price of the bonds on December 31, 2021, assuming that the market rate of interest for similar bonds was 6%.Table values are based on:n = 30i = 6%Cash Flow Amount Present ValueInterest $111,300,000 $74,454,240Principal $100,000,000 $13,137,000Price of bonds $87,591,240 I NEED THIS DONE IN 15 MINS!!! BRAINLIEST (Thank you, M'am)Imagine you are Rodger , and ten years have passed. While you are at the store, you run into Mrs. Jones. Write a short narrative about this encounter in which you give her updates of your life.Consider- What are you doing now?, What would you say to her now that you couldn't express at the time of the incident, How did the encounter 10 years ago with Mrs. Jones shape your life and your perspective on kindness and giving?, How does Mrs. Jones respond to the changes in our life? When was the term "Oklahoma" first used in an official document? Who suggested the name? I only need help for 6 I need Help please help with X - 7.6 = 18.2 Next, copy in your strip_punctuation function and define a function called get_pos which takes one parameter, a string which represents one or more sentences, and calculates how many words in the string are considered positive words. Use the list, positive_words to determine what words will count as positive. The function should return a positive integer - how many occurrences there are of positive words in the text. Note that all of the words in positive_words are lower cased, so youll need to convert all the words in the input string to lower case as well.punctuation_chars = ["", ","," 3 # list of positive words to use 4 positive_words = 0 5 with open ("positive_words.txt") as pos_f: for lin in pos_f: if lin[0] != ';' and lin[0] != '\n': positive_words.append(lin.strip) 6 7 8 9 10 Which best describes traditional classification? O It is based on shared characteristics. O It is based on evolutionary relationships.O It is called phylogenetic classification. O It is called cladistics. marco is 6 feet 3 inches tall. There are 2.54 centimeters in 1 inch. What is marcos height in centimeters. During a musical an orchestra is playing. As the music plays, the volume changes in the beginning of the piece can be modeled by the equation s = 10x - 4+ 50 where s represents the sound level in decibels and x represents the number of measures of music played. At what number(s) measures played would the sound level be at 80 decibels? How do you correct these 2 sentences?1. En mi opinin un hroe es un bueno persona?2. Yo pienso un hroe inteligente, amable y furzo? True or FalseBlack Smokers are a chimney-like accumulation of acid deposits that is found at thesurface of the high mountains. Solve for x. 8x=4x32 A)x = 8 B)x = 4 C) x=4 D) x=8 (12. Thomas Jefferson and Thomas Paine shared a similar purpose for writing. What was theirpurpose?O to express and reflectto persuadeO to informto imita