Types of Entities
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| show | True
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| Sole proprietors are subject to self-employment taxes on net income from their sole proprietorship | show 🗑
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| show | True
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| show | True not corps
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| The C corporation tax rate is significantly lower than the top individual marginal tax rate. | show 🗑
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| Owners who work for entities taxed as a partnership receive guaranteed payments as compensation. The guaranteed payments are not self-employment income | show 🗑
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| If a C corporation incurs a net operating loss in 2018 it may carry the loss back two years and forward 20 years to offset income in those years. | show 🗑
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| show | corporations
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| Can a c corporation who incurs a net operating loss (NOL) for a tax year that begins in 2018 do? | show 🗑
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| What kind of deduction is the deduction for qualified business income? | show 🗑
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| When an employee/shareholder receives a business income allocation from a S corp what taxes apply to the business income allocation? | show 🗑
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| show | C Corp
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| show | the losses don't flow-through to owners to offset their income from other sources.
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| From a tax perspective, which entity choice is preferred when a liquidating distribution occurs and the entity has appreciated assets | show 🗑
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| show | no limit corp, 100 max S and no limit partnership
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| show | 1065
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| show | Articles of organization
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| show | Corporation
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| Which of the following legal entities file documents with the state to be formally recognized by the state? | show 🗑
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| What describes the marginal tax rate | show 🗑
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| show | True
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| show | true
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| Any Book tax difference that requires an add-back to book income to compute taxable income is an unfavorable book-tax | show 🗑
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| Income that is included in book income , but excluded from | show 🗑
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| show | leads to temporary book-tax differences.
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| show | In the year incurred.
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