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Machela, a single individual, owns all the stock in Gordon Corporation, which reports taxable income of $58,800. The corporation distributes the $58,800 in earnings as
Machela, a single individual, owns all the stock in Gordon Corporation, which reports taxable income of $58,800. The corporation distributes the $58,800 in earnings as a dividend. Machela also receives a salary from the company of $68,300. She has itemized deductions for the year of $15,700.
Tax rate schedule is based off of 2016
Machela's tax liability for the year is $___ and Gordon Corporation's tax liability for the year is $___.
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