Emily is a cash-basis taxpayer, and she was an especially productive salesperson last year. In December of last year her supervisor told Emily she had earned a $5,000 bonus. However, Emily received the bonus check after year-end. Identify the principle that will determine when Emily is taxed on the bonus. Select one: a. Assignment of income b. Wherewithal to pay c. All of these choices are correct. d. Return of capital principle e. Constructive receipt Mr. and Mrs. Wu intend to engage in tax planning. They have heard they can shift income to a child. The Wu's are in the 22 tax bracket. Their son Jasen is 5 years old and has no income. The Wu's have a Hoover, Inc. Bond that pays $2000 per year of interest income. The Wu family overall will save taxes if the bond is transferred to the child. Select one: True False