Rachel is an engineer who practices as a sole proprietor. This year, Rachel had net business...

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Accounting

Rachel is an engineer who practices as a sole proprietor. Thisyear, Rachel had net business income of $500,000 from her business.Assume that Rachel pays $20,000 wages to her employees, she has$500,000 of property (unadjusted basis of equipment she purchasedlast year), has no capital gains, and her taxable income before thededuction for qualified business income is $380,000. CalculateRachel's deduction for qualified business income.

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QBI deduction An Individual tax payers deduction for a particular year is equal to Lesser of the following 1 20 of QBI 2 The greater of a 50 of W2 wages with respect to businesses b See Answer

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Rachel is an engineer who practices as a sole proprietor. This year, Rachel had net business...

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Accounting

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