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comparable positions in comparable companies; (11) compensation
paid in prior years; and (12) whether the employee guaranteed the
employer's debt. Rutter v. Commissioner, supra; Owensby &
Kritikos, Inc. v. Commissioner, supra; Mayson Manufacturing Co.
v. Commissioner, 178 F.2d 115, 119 (6th Cir. 1949), revg. and
remanding a Memorandum Opinion of this Court dated Nov. 16, 1948;
R.J. Nicoll Co. v. Commissioner, 59 T.C. 37, 51 (1972). No
single factor controls. Mayson Manufacturing Co. v.
Commissioner, supra.
2. Post-June 30, 1992, Facts
The last day of the tax year at issue was June 30, 1992.
Respondent objected to the admission of evidence relating to some
post-June 30, 1992, events as irrelevant.1 Petitioner relies on
events occurring after June 30, 1992, to show Choate's value to
petitioner in the year ending June 30, 1992, and to rebut
1 Respondent does not argue on brief that we should not
consider events occurring after June 30, 1992. On brief,
respondent points out that Choate lent money to petitioner from
June 2, 1992, to June 29, 1993, when he was receiving large
bonuses from petitioner. Respondent's expert testified that he
would consider petitioner's 1994, 1995, and 1996 financial
success in estimating Choate's reasonable compensation for 1992
because the performance of an officer in a construction company
affects the firm in later years.
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