Business, 23.09.2020 07:01, 22justinmcminn

Broadbill Corporation, a calendar year C corporation, has two unrelated cash method shareholders: Marcia owns 51% of the stock, and Zack owns the remaining 49%. Each shareholder is employed by the corporation at an annual salary of $240,000. During 2020, Broadbill paid each shareholder-employee $220,000 of his or her annual salary, with the remaining $20,000 paid in January 2021. How much of the 2020 salaries for Marcia and Zack is deductible by Broadbill in 2020? a. For a cash method taxpayer, the amount of the 2020 salaries that is deductible in 2020 is $.
b. For an accrual method taxpayer, in 2020, Broadbill can deduct $.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 09:00, puppy5209

Aminor has the legal right to repudiate

Answers: 2

continue

Business, 22.06.2019 15:10, GreenHerbz206

Paddock pools constructed a swimming pool and deck for the jensens' home. paddock installed the wrong trim on the pool. it would cost $2800 to change the trim-one-fifth of the total cost of the pool. the jensens refuse to pay anything for the pool. the paddock's best defense is: (a) duress (b) substanial performance (c)mistake (d) failure of conditions

Answers: 3

continue

Business, 22.06.2019 17:50, primmprincess312

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.

Answers: 2

continue

Business, 22.06.2019 22:10, corrineikerd

Asupermarket has been experiencing long lines during peak periods of the day. the problem is noticeably worse on certain days of the week, and the peak periods are sometimes different according to the day of the week. there are usually enough workers on the job to open all cash registers. the problem is knowing when to call some of the workers stocking shelves up to the front to work the checkout counters. how might decision models the supermarket? what data would be needed to develop these models?

Answers: 2

continue

Do you know the correct answer?

Broadbill Corporation, a calendar year C corporation, has two unrelated cash method shareholders: Ma...