Specified investment business income includes all property income earned by a corporation.
True / False
False
A personal services business would not include a corporation that provides services on a fee-for-service basis, even if that work was done by a shareholder.
True / False
True
An important factor to consider in analyzing the dividend/salary policy of a corporation with income over $200,000 is the benefit of tax deferral versus the cost of double taxation.
True / False
True
If a shareholder is also an employee, the corporation may make a loan to him for the purpose of acquiring a personal residence with no tax consequences.
True / False
True
The sharing of the small business deduction amongst associated corporations is the only limitation on the small business deduction on active business income.
True / False
False
