28. LO.7 Blue is the owner of all of the shares of an S corporation. Blue is...
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28. LO.7 Blue is the owner of all of the shares of an S corporation. Blue is considering receiving a salary of $110,000 from the business. She will pay the 7.65%
FICA taxes on the salary, and the S corporation will pay the same amount of FICA tax. If Blue reduces her salary to $50,000 and takes an additional $60,000 as a cash distribution from AAA, how will her Federal income tax liabilities change?
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Related Book For 
Essentials Of Taxation Individuals And Business Entities
ISBN: 233160
1st Edition
Authors: Nellen/Young/Raabe/Maloney
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