What is the effect on the taxpayer’s taxable income if Taxpayer B is: a. a C corporation? b. an individual?

1) An owner takes $35,000 out of her business as a salary for 2012. Compare the income and FICA or self-employment tax burdens of an individual who owns a business that has operating income of $60,000 if the business is a. a C corporation b. a sole proprietorship 2) Taxpayer B has the following gains and losses from property transactions. Long-term capital gain $5,000Long-term capital loss 8,000Section 1231 gain 11,000Section 1231 loss 9,000Short-term capital gain 2,000Short-term capital loss 4,000 What is the effect on the taxpayer’s taxable income if Taxpayer B is: a. a C corporation? b. an individual?