Jack Flubber, who owns sons of Flubber Construction Co. and runs it as a proprietorships had gross profit last year of $ 80000. His personal and family expenses are $ 52000 and he has $ 7000 in exemptions and deductions. He paid $ 17000 in taxes. If he paid himself a salary of $ 55000 taxed at 20 % would be advantageous for him to incorporate as a closely held corporation? Explain?