David Roberts runs a one-person corporation, a management consulting firm. For the first few years, he paid
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David Roberts runs a one-person corporation, a management consulting firm. For the first few years, he paid himself a minuscule salary, no dividends, and no fringe benefits, paying only the regular corporate tax. At the point when accumulated earnings had reached \(\$ 150,000\), all invested in listed stocks, he started paying himself a comfortable but reasonable salary and established a qualified pension plan for himself. From this point on, the corporation had no taxable income. Is it possible that the accumulated earnings tax will be imposed? The personal holding company tax?
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To determine whether David Roberts oneperson corporation is subject to the accumulated earnings tax or the personal holding company tax we need to con...View the full answer
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Related Book For 
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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