Bert founded Sambert Corporation a little over a year ago. He believes that his company, which sells specialized computer toys, will be very profitable over the next several years, as evidenced by its $400,000 of earnings in the current year. Although Bert does not need the income, he is interested in getting the earnings out of the company while paying the least amount of tax possible. Bert intends to work actively in the company and be paid a reasonable salary for the next 5 years. At the end of that time, he expects his oldest son to take over the company after finishing college. Bert knows that the salary he draws will reduce the corporation’s taxable income and that he will be taxed at ordinary rates on that income. However, he is interested in the tax implications of property distributions the company might make to him either in redemption of his shares or, if something prevents his son from taking over the business, in the liquidation of the corporation. Discuss the types of distributions that a shareholder might encounter over the life cycle of the corporation and the tax implications of each type of distribution.