Write a paper about Tax Cuts and Jobs Act of 2017 specifically about Qualified business deduction the attached additional material that says “Project 1 Tax Research” gives more information about the research paper and the other materials are sources due to being primary sources.
Specifically the address Nature of the QBID (e.g., relationship with standard and itemized deductions)
QBIDs principal beneficiaries (whos eligible and whos not eligible; be sure to highlight
specified service trades or businesses, or SSTBs)
Definition of qualified business income (QBI)
Computation of the QBID, including the general rule and major limitations (i.e., role of SSTB
designation, taxable income thresholds, W-2 wages and unadjusted basis of depreciable tangible
property, and overall taxable income
and explain the policy objective for the QBID. Why did Congress think this was a good idea, and how
might this justification be affected by President Bidens proposal to increase the corporate tax rate?
