CourseLover

(12)

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Teaching Since: May 2017
Last Sign in: 283 Weeks Ago
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  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Management Posted 21 Dec 2017 My Price 10.00

Wesley invested $100,000 in Hollywood

Wesley invested $100,000 in Hollywood (a C corporation) for a 10% interest and also invested $50,000 in Cage (an S corporation) for a 25% interest. For the current year, Hollywood had a taxable loss of $120,000 and Cage had a taxable loss of $75,000. No distributions were made. If Wesley is in the 25% marginal tax bracket, how much will he be able to save in taxes in the current year as a result of these corporate losses? (Round up your calculations)

Answers

CourseLover
(12)
Status NEW Posted 21 Dec 2017 08:12 AM My Price 10.00

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