Chad is the president and sole shareholder of Greenfield, Inc., a regular corporation. The corporation reported taxable income of $575,000 after deducting his $900,000 salary. If the IRS disallowed $550,000 as unreasonable compensation, Chad's taxable income will:
A) Increase by $550,000
B) Decrease by $550,000
C) Increase by $900,000
D) Stay the same

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The Answer of Chad is the president and sole shareholder of Greenfield, Inc., a regular corporation. The corporation reported taxable income of $575,000 after deducting his $900,000 salary. If the IRS disallowed $550,000 as unreasonable compensation, Chad's taxable income will:
A) Increase by $550,000
B) Decrease by $550,000
C) Increase by $900,000
D) Stay the same

Chad Is the President and Sole Shareholder of Greenfield, Inc