How much of the accured bonuses can north inc deduct in

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Reference no: EM13608795

North Inc. is a calendar-year, accrual-basis taxpayer. At the end of year 1, North accrued and deducted the following bonuses for certain employees for financial accounting purposes. *$7,500 for Lisa Tanaka, a 30 percent shareholder *$10,000 for Jared zbaski, a 35 persent shareholder *$12,500 for Helen Talanian, a 20 percent shareholder *$5,000 for Steve Nielson, a 0 percent shareholder Unless stated otherwise, assume these shareholders are unrelated. How much of the accured bonuses can North Inc. deduct in year 1 under the following alternative scenarios?

Reference no: EM13608795

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