4. LO.1 Art Funkel started his incorporated medical practice on June 1, 2013. He immediately made an

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4. LO.1 Art Funkel started his incorporated medical practice on June 1, 2013. He immediately made an S election for the corporation. Art would like the corporation to adopt a tax year ending May 31 so that a full 12 months of income would be included in the first tax year. Can the corporation elect a fiscal year ending May 31? Explain.

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South-Western Federal Taxation 2014 Corporations Partnerships Estates And Trusts

ISBN: 9781285424484

37th Edition

Authors: William H. Hoffman Jr., William A. Raabe, James E. Smith, David M. Maloney, James C. Young

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