Example 1. You are a self-employed lawyer. As payment for your services, you receive shares of stock in the corporation. You must include the fair market value of the shares in your income. True or False.
The correct answer is True.
Thursday, July 19, 2012
A Little Secret on How Attorneys Get Rich
While studying for the new tax exam that tax professionals have to pass, by law, I ran across this interesting example in my studies:
Example 1. You are a self-employed lawyer. As payment for your services, you receive shares of stock in the corporation. You must include the fair market value of the shares in your income. True or False.
Example 1. You are a self-employed lawyer. As payment for your services, you receive shares of stock in the corporation. You must include the fair market value of the shares in your income. True or False.
