In 2024, Maya, a single taxpayer, has taxable income before the QBI deduction of $221,950....

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Accounting

In 2024, Maya, a single taxpayer, has taxable income before the QBI deduction of $221,950. She is a CPA and operates an accounting practice as a single-member LLC (reported as a sole proprietorship). Her proprietorship reports net income of $100,000, paid W-2 wages of $125,000, and has $10,000 of qualified property. What is her qualified business income deduction?
In 2024, Maya, a single taxpayer, has taxable income before the QBI deduction of $221,950. She is a CPA and operates an accounting practice as a single-member LLC (reported as a sole proprietorship). Her proprietorship reports net income of $100,000, paid W-2 wages of $125,000, and has $10,000 of qualified property. What is her qualified business income deduction?
$-0-.
$8,000.
$20,000.
$12,000

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