Thad, a single taxpayer, reports taxable income before the QBI deduction of $180,500. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During the tax year, his proprietorship generates qualified business income of $144,400 after deducting self-employment taxes, W–2 wages of $108,300, and $8,800 of qualified property. Assume the QBI amount is net of the self-employment tax deduction. If required, round any division to two decimal places. Round your final answer to the nearest dollar.

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

Which of the following statements about revision is most accurate? (a) you must compose first drafts quickly (sprint writing) and return later for editing. (b) careful writers always revise as they write. (c) revision is required for only long and complex business documents. (d) some business writers prefer to compose first drafts quickly and revise later; others prefer to revise as they go.

What is the sequence of events that could lead to trade surplus