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Based on the following information determine the tax consequences of the bonus to both Big Blu Ltd. and Mr. Harley Blu the founder of the

Based on the following information determine the tax consequences of the bonus to both Big Blu Ltd. and Mr. Harley Blu the founder of the company.

i) Big Blu Ltd.'s Year End: December 4, 2017

ii) Date the bonus was declared: October 20, 2017

ii) Date the bonus was paid: August 23, 2018

iv) Amount of the bonus: $46,000

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