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Charlie, who is in the 37 percent marginal tax bracket, is the president and sole owner...

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Accounting

Charlie, who is in the 37 percent marginal tax bracket, is thepresident and sole owner of Charlie Corporation (a C corporation inthe 21 percent tax bracket). His current salary is $700,000 peryear. Whar are the income and FICA tax consequences if the IRSdetermines that $200,000 of his salary is unreasonablecompensation?

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