Question

A business entity's taxable income before the cost of certain fringe benefits paid to owners and other employees is $400,000. The amounts paid for these fringe benefits are as follows:
The business entity is equally owned by four owners.
a. Calculate the taxable income of the business entity if the entity is a partnership, a C corporation, and an S corporation.
b. Determine the effect on the owners for each of the three business forms.


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  • CreatedSeptember 09, 2015
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