Transcribed Image Text
In: AccountingRoquan is an attorney and practices as a sole proprietor. Thisyear, Roquan, who is single,...Roquan is an attorney and practices as a sole proprietor. Thisyear, Roquan, who is single, had net business income of $90,000from his law practice. Assume that Roquan pays $40,000 wages to hisemployees, he has $10,000 of property (unadjusted basis ofequipment he purchased last year), has no capital gains orqualified dividends, and his taxable income before the deductionfor qualified business income is $100,000. (Leave no answer blank.Enter zero if applicable.) Required: Calculate Roquan’s deductionfor qualified business income. Assume the same facts as earlier,except Roquan’s taxable income before the deduction for qualifiedbusiness income is $300,000.a. Calculate Roquan’s deduction for qualified businessincome.b. Assume the same facts as earlier, except Roquan’s taxableincome before the deduction for qualified business income is$300,000.