Ms. S is the sole shareholder and chief executive officer of SMJ Corporation. Ms. S's college roommate

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Ms. S is the sole shareholder and chief executive officer of SMJ Corporation. Ms. S's college roommate recently lost her job, is in financial difficulty, and has asked Ms. S for a loan. Instead of a loan, Ms. S offered the roommate a job with SMJ at a $35,000 annual salary.
Identify the tax issue or issues suggested by the following situations, and state each issue in the form of a question.
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Principles Of Taxation For Business And Investment Planning 2018

ISBN: 9781259713729

21st Edition

Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan

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