B & D FOUNDATIONS, INC. v. COMMISSIONER

Docket No. 14973-98.

82 T.C.M. 692 (2001)

T.C. Memo. 2001-262

B & D Foundations, Inc. v. Commissioner.

United States Tax Court.

Filed October 3, 2001.


Attorney(s) appearing for the Case

Joseph H. Thibodeau, Matthew T. Gehrke, and Kandace C. Gerdes, for the petitioner. Michael W. Lloyd, for the respondent.


MEMORANDUM FINDINGS OF FACT AND OPINION

BEGHE, Judge:

Respondent determined the following deficiencies in petitioner's Federal income tax:

  Year Ended                         Deficiency

  7/31/93 ..........................  $24,142
  7/31/96 ..........................   98,279

Respondent disallowed as unreasonable compensation under section 162(a)(1)1 $353,911 of salaries out of $1,113...

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