Question
Mr. Tuck and Ms. Under organized a new business as an LLC in which they own equal interests. The new business generated a $4,200 operating
Mr. Tuck and Ms. Under organized a new business as an LLC in which they own equal interests. The new business generated a $4,200 operating loss for the year. If Mr. Tucks marginal tax rate before consideration of the LLC loss is 35 percent, compute his tax savings from the first-year LLC loss. Assume the excess business loss limitation does not apply.
Tax savings:
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Financial Accounting For OHADA Member States Volume 1
Authors: Michael Forzeh Fossung
1st Edition
3330328037, 978-3330328037
