Unformatted text preview: and entertainment expense) Depreciation Expense (book) 12,000 Depreciation Expense (MACRS) 20,000 Charitable Contributions 15,000 Dividends Paid 100,000 Part II: Based on the information above, Compute their net book income after taxes (assume book tax expense = tax liability). Part III: Use M-1 to reconcile Book Income to Taxable Income Part IV: What are the tax implications to Richard Gold personally regarding Gold Corporatio n’s activities? What is his basis in his stock at the end of 2009?...
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This note was uploaded on 08/25/2010 for the course TAX 4001 taught by Professor Hampton,m during the Fall '08 term at University of Central Florida.
- Fall '08