TAX in Canada
Paige Turner is a sales manager employed in Ontario. She used her car and her cell phone for employment related purposes during 2019. She claimed the following expenses on her T777, Stmt of Employment Expenses, for 2019 (all HST taxable amounts include applicable HST):
•Cell phone charges $1,391
•Gas, maintenance and car repairs $10,886
•Insurance on car $539
The car was purchased during 2019. She did not own a car prior to this purchase.
Calculate the HST/GST rebate.
Homework Answers
Hst rate in 2019 is 13%
Then
Total value = 1391 +10886 = 12277
* she did not own a car then insurance on car is not taken. If CCA value is given it is included.
Hst/gst rebate = value *rate/100+rate
= 12277*13/113 = 1412.39
*If CCA valus is it added to total value then compute hst/gst rebate as same formula.
TAX in Canada
Ms. Marcia Brady lives and works in Prince Edward Island. She owns and operates a No Frills grocery store, which is an HST registrant. During the current year, her business has total revenue of $1,884,043. 27% of the total revenue is from the sale of fully taxable supplies. 43% of the total revenue is from the sale of zero-rated supplies. The total revenue balance includes applicable HST.Rent for the period on her store was $24,000 and she pays a clerical...
On January 2, 2019, Ms. Shirley Kantor moves from London, Ontario, to Thunder Bay, Ontario, in...
On January 2, 2019, Ms. Shirley Kantor moves from London, Ontario, to Thunder Bay, Ontario, in order to begin employment with Northern Enterprises Ltd. (NEL). Her salary for the year was $142,000. NEL withheld the following amounts from her earnings: Federal And Provincial Income Tax $32,500 Registered Pension Plan Contributions (NEL Makes A Matching Contribution) 3,200 EI Premiums 860 CPP Contributions 2,749 United Way Donations 450 Professional Association Dues 1,250 Other Information: Shirley’s moving expenses total $6,800. NEL reimbursed...
This is literally all the information from the question. Amanda is self-employed and uses her personal...
This is literally all the information from the
question.
Amanda is self-employed and uses her personal automobile in connection with her business. During 2019, Amelie drove her car a total of 26,000 miles. Her business log shows that she drove 23,400 miles for business purposes. During 2019, Amelie incurred the following actual expenses based on 100% use that is, 26,000 total miles: (The standard mileage rate method permits a deduction based on a mileage rate of 58 cents per mile...
Taxation Question 1 peterman
· Peterman Inc. provides an automobile to Ms. Winters for her to use in carrying out her employment duties. · Ms. Winters is given full possession of the car and is allowed to use it for personal needs. However, when she is not using it for employment or personal activities, it must be returned to Peterman’s premises so that it can be used by other employees.· The automobile was purchased in 2016 for $42,000 and, during the years 2016, 2017,...
Peterman Inc. provides an automobile to Ms. Winters for her to use in carrying out her...
Peterman Inc. provides an automobile to Ms. Winters for her to use in carrying out her employment duties. Ms. Winters is given full possession of the car and is allowed to use it for personal needs. However, when she is not using it for employment or personal activities, it must be returned to Peterman’s premises so that it can be used by other employees. The automobile was purchased in 2016 for $42,000 and, during the years 2016, 2017, and 2018...
Expenses are shown in the data table Allison is self-employed and uses her personal automobile in...
Expenses are shown in the data table
Allison is self-employed and uses her personal automobile in connection with her business. During 2019, Amelie drove her car a total of 22,000 miles. Her business log shows that she drove 19,800 miles for business purposes. During 2019, Amelie incurred the following actual expenses based on 100% use that is, 22,000 total miles: (The standard mileage rate method permits a deduction based on a mileage rate of 58 cents per mile for the...
Using 2019 IRS forms and the information below, William is 53 and Joyce is 51. They...
Using 2019 IRS forms and the information below, William is 53 and Joyce is 51. They are married. William is a manager for ABC Corporation, a firm that manufactures and distributes widgets. Joyce is a self-employed author of children’s books. The taxpayer wish to minimize their tax by deferring income and accelerating deductions when possible. 1. Joyce is active in the local school PTA. During the year, she receives an award (a plaque and a $100 gift certificate that were...
During 2019, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii. Expense...
During 2019, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii. Expense Item Amount Insurance $500 Repairs and maintenance 700 Interest on mortgage 3,000 Property taxes 1,000 Utilities 800 Depreciation 8,000 During 2019, Kim used the condominium 20 days for vacation. She rented it out for a total of 60 days, generating a total gross income of $9,100. .Requirement a. What are the total amounts of deductions for and from AGI that Kim may take during...
During 2019, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii. Expense...
During 2019, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii. Expense Item Amount Insurance $500 Repairs and maintenance 700 Interest on mortgage 3,000 Property taxes 1,000 Utilities 800 Depreciation 8,000 During 2019, Kim used the condominium 20 days for vacation. She rented it out for a total of 60 days, generating a total gross income of $9,100. .Requirement a. What are the total amounts of deductions for and from AGI that Kim may take during...
Andy worked for High Speed Bikes Inc. from March 1st to December 31st during 20x1. He...
Andy worked for High Speed Bikes Inc. from March 1st to December 31st during 20x1. He earned a monthly base salary of $4,000, plus 1% commission on all of his sales. During 20x1, Andy's sales totaled $800,000. Andy was required by his employer to pay for his employment expenses. He traveled out of his city most days in order to sell to customers in surrounding towns. He received a monthly allowance of $500 to cover his traveling costs (which has...
This is literally all the information from the
question.
Amanda is self-employed and uses her personal automobile in connection with her business. During 2019, Amelie drove her car a total of 26,000 miles. Her business log shows that she drove 23,400 miles for business purposes. During 2019, Amelie incurred the following actual expenses based on 100% use that is, 26,000 total miles: (The standard mileage rate method permits a deduction based on a mileage rate of 58 cents per mile...
Expenses are shown in the data table
Allison is self-employed and uses her personal automobile in connection with her business. During 2019, Amelie drove her car a total of 22,000 miles. Her business log shows that she drove 19,800 miles for business purposes. During 2019, Amelie incurred the following actual expenses based on 100% use that is, 22,000 total miles: (The standard mileage rate method permits a deduction based on a mileage rate of 58 cents per mile for the...
Andy worked for High Speed Bikes Inc. from March 1st to December 31st during 20x1. He earned a monthly base salary of $4,000, plus 1% commission on all of his sales. During 20x1, Andy's sales totaled $800,000. Andy was required by his employer to pay for his employment expenses. He traveled out of his city most days in order to sell to customers in surrounding towns. He received a monthly allowance of $500 to cover his traveling costs (which has...
Most questions answered within 3 hours.
-
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 1 hour ago -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 2 hours ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 4 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 5 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 6 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 7 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 6 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 8 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 8 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 8 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 8 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 8 hours ago