Corporation is a calendar year accrual method taxpayer. Kiwi needed help with data processing and hired Carrot
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Corporation is a calendar year accrual method taxpayer. Kiwi needed help with data processing and hired Carrot to perform 80 hours of services. Carrot is an independent contractor with a rate of $80 per hour. Carrot performed 20 hours of service in 2020 and 60 hours of service in 2021. Kiwi paid Carrot $6,400 for the services provided on March 20, 2021. What amount is deductible by Kiwi Corporation in 2020?
Related Book For
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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