Robbie is the Vice President of Mailer Corporation. He owns 40 percent of Mailer, which is organized as an S corporation. Robbie's salary is $75,000, and he receives group-term life insurance and health and accident insurance that costs $3,000. Mailer's operating income without considering any payments or benefits that Robbie receives is $180,000.  identify the tax issue posed by the facts presented, and determine the possible tax consequences of each issue that you identify.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Robbie is the Vice President of Mailer Corporation. He owns 40 percent of Mailer, which is organized as an S corporation. Robbie's salary is $75,000, and he receives group-term life insurance and health and accident insurance that costs $3,000. Mailer's operating income without considering any payments or benefits that Robbie receives is $180,000. 
identify the tax issue posed by the facts presented, and determine the possible tax consequences of each issue that you identify. 

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