Sole proprietors are allowed to deduct owner-employee salaries and fringe benefits.
Correct Answer:
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Q3: A sole proprietor
I.Can be an employee of
Q4: Start-up and organizational costs can be expensed
Q5: General partners
I.Are liable for all debts of
Q6: Partnership debts assumed by a partner is
Q7: Owners of a specified service business can
Q9: The shareholder of an S corporation can
Q10: Limited liability refers to
A)whether the entity ceases
Q11: As a limited partner in Technonics, Ltd.,
Q12: Corporations generally are required to use the
Q13: A guaranteed payment is a payment made
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