Lynette is the CEO of publicly-traded TTT Corporation and earns a salary of $310,000 in the current year. Assume TTT is profitable and has a 21 percent tax rate.

What is TTT Corporations after-tax cost of paying Lynettes salary?

after-tax cast

Lauren owns a condominium. In each of the following alternative situations, determine whether the condominium should be treated as a residence or a nonresidence for tax purposes.

rev: 12_13_2018_QC_CS-151658, 02_18_2019_QC_CS-159283

a. Lauren lives in the condo for 21 days and rents it out for 16 days.

• Residence

• Nonresidence