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The Cardinal Wholesale Company is an S corporation that began business on March 1, 2005. Robert, a calendar year taxpayer, owns 100% of the Cardinal...

The Cardinal Wholesale Company is an S corporation that began business on March 1, 2005. Robert, a calendar year taxpayer, owns 100% of the Cardinal stock. He has $400,000 taxable income from other sources each year. Robert will work approximately 30 hours a week for the corporation. Cardinal sells swimming pool supplies

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