Roberto and Reagan are both 25-percent owner/managers for Bright Light Inc. Roberto runs the retail store in Sacramento, CA, and Reagan runs the retail store in San Francisco, CA. Bright Light Inc. generated a $130,600 profit companywide made up of a $76,600 profit from the Sacramento store, a ($29,000) loss from the San Francisco store, and a combined $83,000 profit from the remaining stores. If Bright Light Inc. is an S corporation, how much income will be allocated to Roberto?
Answer:
As total income of Bright Light Inc is $130600
Roberto holds 25% share in Bright Light Inc. which is S corporation
in S corporation total Income after all deduction and allowances is passed to stakeholder in the ratio they hold share in the Corporation
So Roberto Taxable income here will be = 25% of $130600
= $32650
Roberto and Reagan are both 25-percent owner/managers for Bright Light Inc. Roberto runs the retail store...
Roberto and Reagan are both 25 percent owner/managers for Bright Light Enterprises. Roberto runs the retail store in Sacramento, CA, and Reagan runs the retail store in San Francisco, CA. Bright Light generated a $129,200 profit companywide made up of a $76,200 profit from the Sacramento store, a ($28,000) loss from the San Francisco store, and a combined $81,000 profit from the remaining stores. If Bright Light is taxed as a partnership and decides that Roberto and Reagan will be...
Roberto and Reagan are both 25-percent owner/manager for Bright Light Incorporated. Roberto runs the retail store in Sacramento, California, and Reagan runs the retail store in San Francisco, California. Bright Light Incorporated generated a $126,050 profit company wide made up of a $76,500 profit from the remaining stores. If Bright Light Incorporated is an S corporation, how much income will be allocated to Roberto?
The Container Store Group Inc International Directory of Company Histories Company Perspectives We are the original storage and organization specialty retailer and the only national retailer solely devoted to the category. Our goal is to help provide order to an increasingly busy and chaotic world. We provide creative, multifunctional, customizable storage and organization solutions that help our customers save time, save space and improve the quality of their lives. The Texas-based The Container Store Group Inc. is a leading specialty...