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Answer both parts of this assignment, and submit your answer in a single Excel file. 1. A taxpayer has a 35% marginal tax rate. She is faced with two investment options. a. Option 1: buy a corporate bond for $100,000. The bond pays 4% annually, and matures at $100,000 in 8 years. b. Option 2: buy corporate stock for $100,000. The stock pays no dividend, but can be sold for $132,000 in 8 years. Which of these options has the higher net present value of after-tax cash flow? Show your calculations. Use a discount rate of 3%. 2. A married couple has taxable income of $200,000 on a joint return. $130,000 of this is due to the profit of the husband's sole proprietorship. He is considering incorporating the sole proprietorship in order to use the income shifting strategy. If he incorporates, what is the optimal amount of salary (or range of salaries) for him to draw from the corporation each year? Ignore employment taxes and state income taxes. Explain your answer.
1. Clinton Industries had $120,000 in taxable income in 2007. What is the company's total tax liability for the year?
The decedent died on March 12, 2013. The longest first income tax year the decedent’s executor can choose for the estate will end on a.December 31, 2013. b. January 31, 2014. c. February 28, 2014. d. March 31, 2014.
Evaluate Jacqueline's cost recovery for 2013. Evaluate the largest tax deduction possible in 2013 for the equipment:
Shirley is an actress. She has had various roles in Australian movies as well as guest appearances on many TV serials. During the current year, the following events occurred:
Cara Siler, Janna Funk, and Valerie Cloward each own one-third of the common stock of Blue Catering Services Inc. (BCS). BCS was incorporated on February 4, 2008.
Determine the days sales uncollected for both companies as of the end of the present period. Which company is doing a better job in managing the collection of its receivables?
what should be the ratio of the cable tax to the satellite tax? Discuss briefly the assumptions behind your calculation and discuss the incentive effects associated with this EMTR schedule, regarding the decision to join the workforce and to increas..
He has the subsequent items pertaining to his income tax return for the present year
In addition to the $750 of Web design expenses, John attended a conference to improve his skills associated with his Web design work. His trip was for three days and he incurred the following expenses: airfare $370, total taxi fares for trip $180,..
Compare the tax advantages of debt versus equity capital formation of the corporation for the client and debt or equity for capital formation of thenew corporation, based on your research
The corporation was incorporated on April 3, 2004. It has only one class of stock outstanding and operates as a C corporation for tax purposes. Tasty Treats and Beverages caters kid-friendly social events.
You purchase a 6 percent $ 10,000 bond for $ 9,180 plus $ 156 in accrued interest for a total outlay of $ 9,336. Subsequently you receive a $ 300 interest payment. You are in the 20 percent income tax bracket. How much tax do you owe on the int..
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