Edith Arnold, a Realtor associated with Coldwell Banker, and Edward Arnold, an accountant and tax return preparer, operated their individual businesses as S corporations.
In all her dealings with Coldwell Banker, Edith used her personal name. Thus, Coldwell Banker wrote the commission checks to Edith Arnold, not to her S corporation.
Edward operated his accounting and tax preparation business as Pacific Controller, Inc. (PCI), an S corporation. Customers made payments to Edward personally and Edward then endorsed the checks to his ... Log in to view full article.