Essay
Tonya,an actuary,is the sole shareholder of Shrike Corporation,a professional corporation.The corporation paid Tonya a salary of $360,000 during its fiscal year ending September 30,2017.
a.How much salary must Shrike Corporation pay Tonya during the period October 1 through December 31, 2017, to enable the corporation to continue to use its fiscal year without negative tax effects?
b.If Shrike Corporation had taxable income of $75,000 for the year ending September 30, 2017, what is its tax liability?
Correct Answer:
Verified
Correct Answer:
Verified
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