Essay
Shaw,an architect,is the sole shareholder of Shaw Corporation,a professional association.The corporation paid Shaw a salary of $360,000 during its fiscal year ending September 30,2008.
A)How much salary must Shaw Corporation pay Shaw during the period October 1 through December 31, 2008, to enable the corporation to continue to use its fiscal year without negative tax effects?
B)If Shaw Corporation had net profit of $150,000 for the year ending September 30, 2008, what is its tax liability?
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