Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. This year, Roquan had net profit from self-employment of $97,455 from his law practice. The deductible portion of his self-employment taxes is $7,455. His taxable income before the deduction for qualified business income is $100,000. (Leave no answer blank. Enter zero if applicable.)Required:a) Calculate Roquan’s deduction for qualified business income. b) Assume the same facts provided above, except Roquan’s taxable income before the deduction for qualified business income is $300,000.

Explanation:

Given that :

Roquan is a single taxpayer and an attorney;

Roquan had net profit from self-employment of $97,455

The deductible portion of his self-employment taxes is $7,455

His taxable income before the deduction for qualified business income is $100,000.

SInce ; he is  a single taxpayer and an attorney; Roquan is eligible for The standard 20% Qualified Business Income and given that his taxable income is lesser than a threshold of $157000; W-2 limitations do not apply to Roquan.

So in the case of Roquan.

Roquan deduction for qualifies business income will be lesser 20% of the Qualified Business Income.

Roquan deduction for qualifies business income = 20% × $97,455

Roquan deduction for qualifies business income = 0.20 × $97,455

Roquan deduction for qualifies business income = $19, 491

b.

Roquan taxable income is $300,000.

Given that  the income is greater than Standard threshold of $207,500 for a single taxpayer and is from "Specified service businesses" as an attorney and practices as a sole proprietor , he is not eligible for the 20% deduction.

So;

Roquan deduction for qualifies business income  = $0

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.

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