The C Corporation Model is a variation of the
A) Current Model.
B) Pension Model.
C) Exempt Model.
D) Deferred Model.
D) Deferred Model.
The C Corporation Model is a variation of the Deferred Model where taxation occurs at both the entity and the owner levels, but the shareholder taxation of dividends is deferred until payment.
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In the United States, the average annual real return on short-term Treasury securities since 1960 to 2012 has been approximately
A. 1.5 percent. B. 4 percent. C. 7.25 percent. D. 10 percent.
Which of the following is typically the responsibility of an employee toward making a participative program successful?
A. Seeking to use the perspectives of others B. Allocating fair rewards C. Specifying the level of involvement desired D. Identifying the issues to be addressed
Identify which of the following statements is false.
A. Extensions of time for filing tax returns may be obtained. B. A corporation must file a tax return even if it has no gross income. C. Tax returns for all taxpayers must be filed on or before the fifteenth day of the fourth month following the year-end. D. The IRS will not issue a ruling on the topic of whether compensation is reasonable.
Yee manages Huang real estate, a partnership in which she is also a partner. She receives 40% of all partnership income before guaranteed payments, but no less than $80,000 per year. In the current year, the partnership reports $100,000 in ordinary income. What is Yee's distributive share and her guaranteed payment?
A.
| Distributive Share | Guaranteed Payment |
| $40,000 | $40,000 |
B.
| Distributive Share | Guaranteed Payment |
| $40,000 | $80,000 |
C.
| Distributive Share | Guaranteed Payment |
| 0 | $80,000 |
D.
| Distributive Share | Guaranteed Payment |
| $40,000 | 0 |