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Stratege4u Corp has $250,000 in taxable income. Bernie & Bev are 50% partners in Stratege4u Partnership. The partnership net profit is $250.000. A. If you
Stratege4u Corp has $250,000 in taxable income.
Bernie & Bev are 50% partners in Stratege4u Partnership. The partnership net profit is
$250.000.
A. If you were the tax accountant for Stratege4u Partnership, what amount of liability
(taxes), if any, you would inform Stratege4u Partnership that it owes to the IRS for tax
year 2020 based on the above scenario?
B.If you were the tax accountant for Bernie, how much income (dollar amount), if any, you
would inform Bernie that she has to report on her (1040) tax return for tax year 2020
based on the above scenario?
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