If you reduce your annual salary to $40,000, the firm will have taxable income of $58,000...

 

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If you reduce your annual salary to $40,000, the firm will have taxable income of $58,000 once your salary reduction is adjusted by a factor of 1.2 to account for employment taxes and other salary-related effects. What would be the combined amount of corporate and personal tax due in this situation if the firm also paid you a $20,000 dividend? (6%) If you reduce your annual salary to $40,000, the firm will have taxable income of $58,000 once your salary reduction is adjusted by a factor of 1.2 to account for employment taxes and other salary-related effects. What would be the combined amount of corporate and personal tax due in this situation if the firm also paid you a $20,000 dividend? (6%)

Answer rating: 100% (QA)

ANS WER The combined amount of corporate and personal tax due would be 8 560 WORK ING 58 000 0 ... View the full answer