1. For tax purposes, how is the compensation paid to an S corporation shareholder similar...
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Accounting
1. For tax purposes, how is the compensation paid to an S corporation shareholder similar to compensation paid to an owner of an entity taxed as a partnership? How is it different?
2. Why might it be a good tax planning strategy for an S corporation with one shareholder to pay a salary to the shareholder on the low end of what the services are potentially worth?
3. Is business income allocated from a flow-through entity to its owner's self-employment income? Explain.
4. Briefly describe the process of computing a corporations minimum tax credit carryover.
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