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FRANK PETAR CONTRACTING, INC. v. COMMISSIONER

Docket No. 21936-94.

74 T.C.M. 65 (1997)

T.C. Memo. 1997-316

Frank Petar Contracting, Inc. v. Commissioner.

United States Tax Court.

Filed July 9, 1997.

Attorney(s) appearing for the Case

Frank Petar (an officer), for the petitioner. Carmino J. Santaniello, Jr., for the respondent.

MEMORANDUM FINDINGS OF FACT AND OPINION

BEGHE, Judge:

Respondent determined a deficiency in petitioner's Federal income tax for the fiscal year ended May 31, 1990 (FYE 5/31/90) in the amount of $38,164. The sole issue for decision is whether petitioner is entitled to deduct for the taxable year in issue an accrued bonus awarded to its president and sole shareholder.1 Resolution of this issue turns on the factual question of whether...

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