1. Describe the situations in which a corporation must file a tax return. 2. Now...
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Accounting
1. Describe the situations in which a corporation must file a tax return.
2. Now lets look at this scenario: Your client saw an advertisement in the nonprofit chronicles: We Need Your Help! Nonprofit organization needs donations; all donations welcomed but not limited to autos, boats, real estate, etc. Your donation is tax deductible. What would you say to your client concerning federal income tax laws on donations of cash, autos, boats, and real estate and how they apply to corporate taxpayers?
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