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Ethan was hired as the Chief Financial Officer (CFO) of RST Corporation, a private, non-publicly-traded corporation using the accrual basis of accounting for tax purposes,
Ethan was hired as the Chief Financial Officer (CFO) of RST Corporation, a private, non-publicly-traded corporation using the accrual basis of accounting for tax purposes, on July 1, 2022. For the fiscal year 2023, Ethan received the following compensation:
Type of Compensation Amount Annual Salary $250,000 Performance Bonus $40,000 Can RST Corporation deduct these payments on its 2023 corporate income tax return?
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