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Mr. John Carre owns 67% of the stock of JC Incorporated and is employed as...

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Accounting

Mr. John Carre owns 67% of the stock of JC Incorporated and is employed as the corporation's CEO. The corporation is a calendar year, accrual basis taxpayer. On December 14,2024, the board of directors authorized a $45,000 year-end bonus for Mr. Carre, which was paid to him on February 1,2025. In which year can JC Incorporated deduct the bonus?
Multiple Choice
2024.
2025.
JC Incorporated can deduct only $14,850(33%) of the bonus in 2024.
JC Incorporated can never deduct the bonus.

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