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How would her Federal income tax liabilities change

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Problem - Blue is the owner of all of the shares of an S corporation, and Blue is considering receiving a salary of $110,000 from the business. She will pay the 7.65% FICA taxes on the salary, and the S corporation will pay the same amount of FICA tax. If Blue reduces her salary to $50,000 and takes an additional $60,000 as a cash distribution, how would her Federal income tax liabilities change?

Reference no: EM132663574

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