Question
An individual owns 100% of a corporation. He has a desperate need for cash and wants to take out as much cash as possible. Corp.
An individual owns 100% of a corporation. He has a desperate need for cash and wants to take out as much cash as possible.
Corp. - CDA Balance of $25200
Bank Balance of $197800
GRIP Balance of $85000
ERDTOH of $32583
NERDOTH of $10488
What is the maximum amount of money that the corporation can pay to the individual?
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To determine the maximum amount of money that the corporation can pay to the individual while minimizing the tax consequences we need to consider the ...
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Advanced Accounting
Authors: Gail Fayerman
1st Canadian Edition
9781118774113, 1118774116, 111803791X, 978-1118037911
