An S corporation may deduct: a. Charitable contributions within the percentage of income limitation applicable to corporations.
Question:
An S corporation may deduct:
a. Charitable contributions within the percentage of income limitation applicable to corporations.
b. Net operating loss carryovers.
c. Foreign income taxes.
d. Compensation of officers.
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For 
South Western Federal Taxation 2020 Corporations, Partnerships, Estates And Trusts
ISBN: 9780357109168
43rd Edition
Authors: William A. Raabe, James C. Young, William H. Hoffman, Annette Nellen, David M. Maloney
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