Pat's taxable income exceeds $157,500 and thus he is required to phase out his QBI deduction. The phase-out calculation is:

A) The lesser of 50% of business wages or 25% of wages plus 2.5% of the unadjusted basis of qualifying property

Explanation:

If a single filer's taxable income exceeds the $157,000 by $50,000 or more, their QBI deduction cannot exceed the greater of:

The qualified business income (QBI) deduction refers to taxable income passed through by partnerships, S corporations, LLCs, or a sole proprietorship. This is a below the line deduction that doesn't lower your AGI, but it lowers the amount of taxes.

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.

first one

explanation: