REG 1 - Module 4 Flashcards
1
Q
What professions are considered qualified trade or business (QTB)?
A
Butcher, baker, candlestick maker
2
Q
What professions qualify as specified service trade or business?
A
Doctor, lawyer, and business professional
Also, celebrities and rock stars
3
Q
Lower threshold for QBI
A
Single = $160,700 Married = $321,400
4
Q
Higher threshold for QBI
A
Single = $210,700 Married = $421,400