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Sarah and Ryan are married and have a daughter, Chloe, who is four years old...

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Finance

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Sarah and Ryan are married and have a daughter, Chloe, who is four years old and earns no personal service income. Sarah is a successful film director and Ryan is a stay-at-home dad. Sarah and Ryan own many investment assets, including stock, and various business assets, including a luxury condominium in San Francisco they lease for $120,000 per year. Sarah and Ryan want to know whether they can reduce the total income tax their family pays by transferring all or a part of certain income or assets to Chloe. True or False? Question 1 (1 point) Assigning half of Sarah's film directing salary to Chloe would not reduce the total income tax paid by their family. True False Question 2 (1 point) Assigning all of the rental income from the condo to Chloe for 20 years would not reduce the total income tax paid by their family. True False

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