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Assume Stuart chooses to form SMG as an S-corporation. SMGs taxable income is $650,000 and all of the income is business income. His marginal ordinary
Assume Stuart chooses to form SMG as an S-corporation.
- SMG’s taxable income is $650,000 and all of the income is business income.
- His marginal ordinary tax rate is 37%.
- Stuart is eligible for the full deduction for qualified business income on the flow-through income from SMG.
- The income is not passive income
What is the overall tax and tax rate on SMG’s business income?
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Ethics in Accounting A Decision Making Approach
Authors: Gordon Klein
1st edition
1118928334, 978-1118928332
