Ruby is the owner of all shares of an s corporation ruby is

Reference no: EM13605697

Ruby is the owner of all shares of an S corporation. Ruby is considering receiving a salary of $80,000 from the business. She will pay 7.65% FICA taxes on the salary, and the S corporation will pay the same amount of FICA tax. If Ruby reduces her salary to $40,000, and takes an additional $40,000 as a distribution, how much total tax could be saved?

Reference no: EM13605697

Questions Cloud

An electron is released from rest in a uniform electric : an electron is released from rest in a uniform electric field. if the electric field is 1.25 knc at the end of 20 ns

Huron company produces a commerical cleaning compound known : huron company produces a commerical cleaning compound known as zoom. the direct materials and direct labor standards

How will taxable rent received by an individual in june : how will taxable rent received by an individual in june 2008 be treated in a 2008 individual federal tax return? assume

Using gauss-seidel method determine how much of each of the : a more desirable color is 39 pigment a 27 pigment b 25.2 pigment c and 8.8 pigment d. using gauss-seidel method

Ruby is the owner of all shares of an s corporation ruby is : ruby is the owner of all shares of an s corporation. ruby is considering receiving a salary of 80000 from the business.

Accounting for a job-order cost system lo 3 6 7 9bob and : accounting for a job-order cost system lo 3 6 7 9bob and beth ford retired from the food services industry and began

A hollow plastic sphere is held below the surface of a : a hollow plastic sphere is held below the surface of a freshwater lake by a cord anchored to the bottom of the lake.

Assume that the real risk-free rate is 25 and that the : assume that the real risk-free rate is 2.5 and that the maturity risk premium is zero. also assume that the 1-year

Last year gransky corporations variable costing net : last year gransky corporations variable costing net operating income was 52100 and its ending inventory increased by

User Account

All Pages

Ruby is the owner of all shares of an s corporation ruby is

Reference no: EM13605697

Reference no: EM13605697

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Bdgeted income statement cma adapted easecom company is a

Sarbanes oxley is an added cost to any organization which

Determine the issuance price of a bond

What is the average number of units in inventory

Calculate the value of a rs 5000 bond paying interest at

Assuming that the pooling of interest method is still

A machine with a cost of 146000 and accumulated

At the acquisition date sams total fair value including the

Overhead account as a consequence of the raw materials

Assuming that the company uses the perpetual inventory

Record the journal entry to transfer the 147 batches of

Give a historical overview of how rule-making has

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT