Logan, a 50 percent shareholder in Military Gear Inc., is comparing the tax consequences of losses from C corporations with losses from S corporations. Assume Military Gear Inc. has a $100,000 loss for the year, Logan's tax basis in his Military Gear Inc. stock was $150,000 at the beginning of the year, and he received $75,000 ordinary income from other sources during the year. Assuming Logan's marginal income tax rate is 22%, how much more tax will Logan pay currently if Military Gear Inc. is a C corporation compared to the tax he would pay if it were an S corporation? A. $0 B. $3,750 C. $11,000 D. $11,250
Answers: 3
Business, 22.06.2019 03:00, itscheesycheedar
Compare the sources of consumer credit 1. consumers use a prearranged loan using special checks 2. consumers use cards with no interest and non -revolving balances 3. consumers pay off debt and credit is automatically renewed 4. consumers take out a loan with a repayment date and have a specific purpose a. travel and entertainment credit b. revolving check credit c. closed-end credit d. revolving credit
Answers: 1
Business, 23.06.2019 10:00, yani2568
Governments sometimes erect barriers to trade other than tariffs and quotas. which of the following is not an example of this type of trade barrier? a. a requirement that the employees of domestic firms that engage in foreign trade pay income taxes b. restrictions on imports for national security reasons c. a requirement that imports meet health and safety requirements d. a requirement that the u. s. government buy military uniforms only from u. s. manufacturers
Answers: 2
Logan, a 50 percent shareholder in Military Gear Inc., is comparing the tax consequences of losses f...
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