prob009 - Problem 9(Text Ch 3 The taxpayer Mr Jayem Gee a...

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Problem 9 (Text: Ch. 3) The taxpayer, Mr. Jayem Gee, a lawyer, had agreed to the following yearly contract in the three years at issue: The contract is between the firm of Perry and Mason hereinafter called “the firm” and Mr. Jayem Gee hereinafter called “the lawyer”. The firm retains the services of the lawyer for the year …, from January 1 to December 31, and the lawyer agrees to provide his services exclusively to the firm for the aforementioned period. The lawyer will receive for his services fees representing 2.1% of the gross income of the firm, excluding work in progress, all as established by the firm’s accountants. This percentage has been set with reference to the number of lawyers practicing in the firm as of January 1, …. Any change in the number of professionals practicing in the firm will give rise to a revision in the fee percentage. The lawyer will receive as an advance on fees the sum of $1,450.00 in each two- week period and any adjustment will be made at the conclusion of the firm’s fiscal year. In consideration of the fact that the lawyer is receiving fees, no withholdings of
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prob009 - Problem 9(Text Ch 3 The taxpayer Mr Jayem Gee a...

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