Fiscal year without negative tax effects

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Reference no: EM13154961

Patrick, an attorney, is the sole shareholder of Gander Corporation. Gander is a PSC with a fiscal year ending October 31. The corporation paid Patrick a salary of $360,000 during its fiscal year ending October 31, 2008. How much salary must Gander pay Patrick during the period November 1 through December 31, 2008, to permit the corporation to continue to use its fiscal year without negative tax effects?

a. $0.

b. $30,000.

c. $60,000.

d. $120,000.

e. None of the above.

Reference no: EM13154961

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