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State construction company is owed equally by Andy, Bill, and Charlie. Andy works in the...

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Accounting

State construction company is owed equally by Andy, Bill, and Charlie. Andy works in the corporation full-time, and Bill and Charlie work elsewhere. Andy's employment contract with State specifies a $50,000 annual salary. This year, Andy felt that the company could expand if it purchased more equipment and he offered to delay receiving $20,000 of his salary so the funds could be used to purchase the equipment. Bill and Charlie agreed, and the State purchased the equipment. State is expected to have enough cash to pay Andy by early March of next year. What tax issues should Andy consider

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