Robert is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current year, ABC records net income of $293,000 after deducting Robert's $87,900 salary. In addition to his compensation, ABC pays Robert dividends of $205,100. a. What is Robert's qualified business income? $ b. What is Robert's qualified business income if you determined that reasonable compensation for someone with Robert's experience and responsibilities is $177,900?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Robert is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current year, ABC ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
James purchased a new business asset (three-year personalty) on July 23, 2019, at a cost of $40,000. James takes additional first-year depreciation but does not elect Section 179 expense on the asset. Determine the cost recovery deduction for 2019.
Answers (1)
What is the mathematical formula that you would use to describe a financial activity on a bank statement? Explain your response to your option of choice, included. a. Ending Balance = Previous Balance + Deposits + Withdrawals b.
Answers (1)
A company is trying to decide which service to subscribe to that will provide datasets containing demographic data on consumers. Which companies offer that service?
Answers (1)
To find the balance due from an individual customer, the accountant would refer to
Answers (1)
If a stock certificate is lost or destroyed, ownership is not destroyed with it. a. true b. false
Answers (1)
New Questions in Business
Scenario 15-6: The concert promoters of a heavy-metal band, WeR2Loud, know that there are two types of concert-goers: die-hard fans and casual fans.
Answers (1)
A building with a book value of $54,000 is sold for $63,000 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as follows: a. an increase of $9,000 from investing activities b.
Answers (1)
On April 1, 2017, La Presa Company sells some equipment for $18,000. The original cost was $50,000, the estimated salvage value was $8,000, and the expected useful life was 6 years.
Answers (1)
A country has private saving of $500 billion, public saving of - $100 billion, domestic investment of $150 billion, and net capital outflow of $250 billion. what is its supply of loanable funds?
Answers (1)
Sheffield Corp.'s high and low level of activity last year was 67000 units of product produced in May and 27000 units produced in November. Machine maintenance costs were $272600 in May and $120600 in November.
Answers (1)