One of the disadvantages of the partnership form is that the partner's share of the partnership's taxable income is taxed to the partner, whether it is distributed
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: The partnership's income (or loss) is allocated and reported to the partners each year on Schedule K-1; the partners report this income (or loss) regardless of whether the partnership distributes any cash to the partners during the year.
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In terms of the public relations aspect of cause-related marketing, for companies to benefit the company should:
A) make sure the public is always aware of any cause-related marketing they support B) spend some money to publicize causes, but the amount should not be significant C) not publicize causes because the public will think any effort to do so is shameless self-aggrandizement D) spend approximately 25 percent of whatever is given to a cause on publicizing the cause
Corelle is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Kathie, Lynn, Mark, and Norelle) are entitled to the trust’s annual accounting income in shares of one-fourth each. For the current calendar year, the trust incurs ordinary business income of $40,000, a long-term capital gain of $20,000 (allocable to income), and a trustee commission expense of $4,000 (allocable to corpus). Use the format of Exhibit 20.5 in the text to address the following items: a.How much income is each beneficiary entitled to receive? b.What is the trust’s DNI? c.What is the trust’s taxable income? d.How much is taxed to each of the beneficiaries?
What will be an ideal response?
How can an MPR professional measure online word-of-mouth for a new product?
What will be an ideal response?
Which of the following is true?
A) Alien corporations are corporations that are incorporated in other nations, and foreign corporations are corporations that are incorporated in other states. B) Foreign corporations and alien corporations both refer to corporations incorporated in other nations. C) Foreign corporations are corporations that are formed in other nations originally, but are now incorporated in the local state. D) The law of most states usually treats alien corporations and foreign corporations differently.