Application problemmr bern who is in the 35 percent

Assignment Help HR Management
Reference no: EM13360810

Application Problem

Mr. Bern, who is in the 35 percent marginal tax bracket, is the sole shareholder and CEO of Bern Products. His salary this year was $345,000, and the corporation's taxable income was $1,211,000.

a. What are the income tax and FICA tax consequences to Mr. Bern if the IRS determines that $100,000 of his salary is unreasonable compensation?

b. What are the income tax and FICA tax consequences to Bern Products if the IRS determines that $100,000 of Mr. Bern's salary is unreasonable compensation?

When you have completed your analysis and reached a conclusion, write a brief memo to your client in which you do the following:

a. Describe the steps you utilized in conducting your research.
b. List any tax principles used in your analysis.
c. Assess the likelihood that the IRS will challenge your position (state the likelihood of challenge in terms of a percentage).

Reference no: EM13360810

Questions Cloud

Compensation and benefits explained in this solutionyou are : compensation and benefits explained in this solutionyou are the director of compensation and benefits for lansing-smith
Major retirement planning programsyou would like to begin : major retirement planning programsyou would like to begin or increase your savings for retirement. what types of
Share-based compensationthe buford corporation provides an : share-based compensationthe buford corporation provides an executive stock option plan. under the plan the company
Interests matrixprepare a table with two columns in the : interests matrixprepare a table with two columns. in the first column list individual interests that are affected by
Application problemmr bern who is in the 35 percent : application problemmr. bern who is in the 35 percent marginal tax bracket is the sole shareholder and ceo of bern
Important information about compensation systemsshow the : important information about compensation systemsshow the ethical issues inherent in compensation systems paying
Please assist in a five slide power point presentation with : please assist in a five slide power point presentation with documentation for each slide with a recommendation for
Some people claim that workers compensation and : some people claim that workers compensation and unemployment compensation prepare a disincentive to work. what does
Governments role in employee compensationexplain what is : governments role in employee compensationexplain what is the governments role in the employment relationship and its

Reviews

Write a Review

HR Management Questions & Answers

  Describe unions and labor relations

Describe unions and labor relations and their effect on organizations and find the effect of changes in employee relations strategies, policies, and practices on organizational performance.

  Employee problems that develop in the work environment

As we have faced the economic downturn of the past three years, has the volume of challenges changed? Has there been any change in the types of challenges employee are encountering?

  Elements of human resource management for competitive

elements of human resource management for competitive advantage in operationswhy have teams become important in current

  Hrm in project management led organizations

Sustaining Human Resource Management in Project Management Led Organizations in the Private Services Sector in UK:

  Develop and implement code of conduct policies

Identify the situation and state why you think that a policy is necessary and what is the policy that you will establish to help prevent each situation from happening in the future?

  Cycle inventoriesform a discussion group in which each

cycle inventoriesform a discussion group in which each member represents a different functional area of a retailer.

  Possible violation of aicpas code of professional

possible violation of aicpas code of professional conductthe following situations involve a possible violation of the

  Explain about human resources career plan

Explain about Human Resources Career Plan - What are your skills and talents and What is your vision for your job/career

  Fundamental tensions that dodd and favaro identify

What are the fundamental tensions that Dodd and Favaro identify? How does finding the balance among these tensions impact middle managers? Give examples from your experience.

  Show the integrity and management

Explain Why do you feel integrity is an important value for a manager to have and provide an example of how a manager with integrity can help a team. Identify any issues that may occur if a manager lacks integrity.

  Show the research a national labor organization

What are the responsibilities of the union and management in collective bargaining and Research a national labor organization.

  Proposal to justify ethical and diversity considerations

HRM Planning - Proposal to Justify Ethical and Diversity Considerations

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd