Examlex
Which of the following taxpayers may file as a head of household in 2010? Ron provides all the support for his mother,Betty,who lives by herself in an apartment in Fort Lauderdale.Ron pays the rent and other expenses for the apartment and properly claims his mother as a dependent.
Tammy provides over one-half the support for her 18-year old brother,Dan.Dan earned $4,200 in 2010 working at a fast food restaurant and is saving his money to attend college in 2011.Dan lives in Tammy's home.
Joe's wife left him late in December of 2009.No legal action was taken and Joe has not heard from her in 2010.Joe supported his 6-year-old son,who lived with him throughout 2010.
Corporations
Legal entities that are separate from their owners, providing limited liability protection, and able to enter into contracts, sue, and be sued.
Shares
Units of ownership interest in a corporation or financial asset that provide for an equal distribution in any profits, if any are declared, in the form of dividends.
Directors
Directors are individuals elected by the shareholders of a corporation to oversee and direct the corporation's affairs and make significant business decisions.
Shareholder's Right
The entitlements and privileges, such as voting and profit sharing, accorded to individuals or entities owning shares in a corporation.
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