- Identify The Tax Issue Or Issues Suggested By The Following Situations And State Each Issue In The Form Of A Question 1 (408.36 KiB) Viewed 13 times
Identify the tax issue or issues suggested by the following situations, and state each issue in the form of a question.
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Identify the tax issue or issues suggested by the following situations, and state each issue in the form of a question.
Identify the tax issue or issues suggested by the followingsituations, and state each issue in the form of a question.
3. Mr. and Mrs. Braun own 100 percent of the stock of BB Inc., which operates a tempo- rary employment business. Late last year, Mr. Braun was short of cash in his personal checking account. Consequently, he paid several personal bills by writing checks on the corporate account and recorded the payments as miscellaneous expenses. Three months later he repaid the corporation in full.
3. Mr. and Mrs. Braun own 100 percent of the stock of BB Inc., which operates a tempo- rary employment business. Late last year, Mr. Braun was short of cash in his personal checking account. Consequently, he paid several personal bills by writing checks on the corporate account and recorded the payments as miscellaneous expenses. Three months later he repaid the corporation in full.