LO.2 George is a U.S. citizen who is employed by Hawk Enterprises, a global company. Beginning on
Question:
LO.2 George is a U.S. citizen who is employed by Hawk Enterprises, a global company.
Beginning on June 1, 2010, George began working in London. He worked there until January 31, 2011, when he transferred to Paris. He worked in Paris the remainder of 2011. His salary for the first five months of 2010 was $100,000, and it was earned in the United States. His salary for the remainder of 2010 was $175,000, and it was earned in London. George’s 2011 salary from Hawk was $300,000, with part being earned in London and part being earned in Paris. What is George’s gross income in 2010 and 2011
(assume the 2011 indexed amount is the same as the 2010 indexed amount)?
Step by Step Answer:
South Western Federal Taxation 2011 Taxation Of Business Entities
ISBN: 9780538498616
14th Edition
Authors: James E. Smith, William A. Raabe, David M. Maloney