Drew is the sole owner of Morris, Inc., a corporation. Morris's net income for the current year

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Drew is the sole owner of Morris, Inc., a corporation. Morris's net income for the current year is $150,000 before considering Drew's $85,000 salary. Assume Drew is single and has income from other sources that is $30,000 more than his allowable deductions. What is the total income tax liability if Morris is
a. A corporation?
b. An S corporation?

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Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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