An S corporation has the following information for the taxable year: Bill is a 20 percent owner

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An S corporation has the following information for the taxable year:

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Bill is a 20 percent owner of the S corporation and he performs services for the business as an employee. What is Bill’s self-employment income?

a. $0.

b. $52,000.

c. $67,000.

d. $90,000.

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Fundamentals Of Financial Planning

ISBN: 9781936602094

3rd Edition

Authors: Michael A Dalton, Joseph Gillice

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Question Posted: Sep 19, 2024 02:19 PM

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An S corporation has the following information for the taxable year: Bill is a 20 percent owner

Question:

Net Income before the items below $90,000 Bill's Salary Other Income ($38,000) $29,000 Other Expenses Net Income ($14,000) $67,000

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Fundamentals Of Financial Planning

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