If an attorney incorporates her practice, all amounts received for legal services will be personal holding company income.

Name: If an attorney incorporates her practice, all amounts received for legal services will be personal holding company income.
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Question

Quizplus · Accepted Answer

Incorporating a legal practice means that the income received for legal services is no longer personal income, but rather business income. Therefore, it would not be considered personal holding company income.

If an Attorney Incorporates Her Practice, All Amounts Received for Legal