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1 year ago

Is the sole shareholder of a corporation. for the past five years, has reported little or no taxable income as a result?

1 answer:

5 0

For the past five years, Logan has reported little to no taxable income because he paid Graham a salary of $500,000 a year.

Multiply that result by the number of shares held for each individual shareholder. Complete Appendix K, the form companies must submit to list the amount of income attributable to each shareholder for the tax year.

The gross S Corporation income (or loss) reported in Appendix E is included in the income from rentals, royalties, partnerships, S Corporations, trusts, etc. section of an individual's Form 1040.

S corporation tax rate refers to the federal, state, and local personal income taxes an S corporation must pay. S Corporation owners must pay state and local income taxes ranging from 0% to 13.3% and a maximum federal income tax of 39.6%.

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A perpetuity will pay $300 per year, starting five years after the perpetuity is purchased. is purchased. What is the present va

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Answer:

present value of perpetuity = $29615.93

Explanation:

given data

pay = $300 per year

interest rate = 3%

solution

we get here present value payment after 5 year is

present value = $\frac{future\ value}{1+ discount\ rate }$ ...........1

present value = $\frac{1000}{(1+0.03)^5}$

present value = $862.60

and

now we get present value on purchase date

present value = $\frac{payment}{interest\ rate}$ ......2

present value = $\frac{862.60}{0.03}$

present value = $28753.33

and

present value of perpetuity is

present value of perpetuity = $862.60 + $28753.33

present value of perpetuity = $29615.93

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