Carol has recently incorporated her sole proprietorship

Assignment Help Accounting Basics
Reference no: EM131031939

1. Carol has recently incorporated her sole proprietorship and is considering making an S election. The corporation has $200,000 of gross revenue and expenses of $75,000 before Carol's salary. She plans to take a gross salary of $60,000 from the business and this will be her only income for the year. Compare the total tax burden for Carol and the corporation with and without the S election. Consider both income and employment taxes. Carol is single and does not itemize her deductions. She plans to reinvest all of the corporation's net income after taxes into the business. Based on tax burden alone for 2014, should Carol make the S election?  

Reference no: EM131031939

Questions Cloud

Analyze the current position of the organization : Analyze the current position of the organization in relation to its competitors using the five forces framework. Evaluate the strategic options now available to the organization using relevant concepts and frameworks.
Disadvantages associated with group decision making : Compare the advantages and disadvantages associated with group decision making. Can you think of an organization that has effectively managed group relationships and team building? What techniques do they use?
Evaluate the alternative capital investments : BUACC3701: Financial Management - Evaluate the alternative capital investments. Justify your answers to the following questions with full explanations.
Why is the EEOC going beyond its statutory authority : Why is the EEOC going beyond its statutory authority by focusing on issues that are not found in the law, such as caregiver discrimination and discrimination again lesbian, gay, bisexual, and transgender individuals? is racial or sexual discriminatio..
Carol has recently incorporated her sole proprietorship : She plans to reinvest all of the corporation's net income after taxes into the business. Based on tax burden alone for 2014, should Carol make the S election?
Careless enough to post information about themselves : If people are careless enough to post information about themselves (e.g. pictures, stories, blogs) that is of an unflattering or negative nature on public internet sites, why shouldnt employers be able to access that information and use it in making ..
Compute a weighted aggregate index for the r&b beverage sale : Compute a weighted aggregate index for the R&B Beverage sales in 2009, with 2006 as the base period.
Design a flow chart to provide a visual representation : Design a flow chart to provide a visual representation of the interconnections between the histories of ECEC and how it has evolved to current pedagogy and practice
Describe the purposes of the common core standards : Describe the purposes of the Common Core standards and instructional shifts described within the videos. Based on the readings in chapter 3 in Foundations of American Education, which philosophy most closely aligns to the Common Core? Why?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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