Fella
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Joined: 19 Nov 2011
Location: United States
Online Status: Offline
Posts: 68
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| Posted: 14 Aug 2012 at 14:01 | IP Logged
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p.s. i forgot to add that because this example says the
corporation already deducted state tax you leave it that
way because state taxes are deductions for tax purposes.
But if they said that $100,000 income included federal
income tax deduction of $1,000 then you would add it back
because it is not an allowed deduction for tax purposes,
then you would have a taxable income of
100,000+1,000=101,000
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Topic: R3- Please help me in this questio
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