What are the tax deductible fringe benefits available to owners who work in an LLC?
What will be an ideal response?
Ans: Can get benefits associated with sole proprietorship, partnership or corp, depending on tax treatment of LLC
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In February 2016, Paul and Jean, a married couple, cashed a qualified Series EE savings bond they bought in November 2005. They received proceeds of $7,132, representing principal of $5,000 and interest of $2,132. In 2016, they helped pay their daughter's college tuition. The qualified education expenses they paid in 2016 totaled $4,000. They are not claiming an education credit for the expenses, and they do not have an education IRA. How much interest income can Paul and Jean exclude?
a. $4,000 b. $1,000 c. $1,196 d. $2,132
Procedure speeches have step-by-step instructions so the audience can perform the procedure
Indicate whether this statement is true or false.