Determine malia employment income for tax purposes

Assignment Help Business Management
Reference no: EM133172321

Assignment:

In early 2022, Malia intends to borrow $20,000 from her employer to help her acquire shares in the employer's corporation. A low interest rate of 2% per annum will be payable on the loan.

Required:

(a) Determine Malia's employment income for tax purposes for 2021 . The CCA rate for automobiles is 30%, except in the first year when the accelerated rate is 45%.

(b) Briefly describe the tax implications from the intended employee loan to Malia. Assume the CRA's prescribed interest rate is in excess of 2%.

Reference no: EM133172321

Questions Cloud

Prepare the november adjusting entry for bad debts : At its December 31 year-end, total Accounts Receivable is $99,000, Prepare the November 2020 adjusting entry for bad debts
Explain the difference a non-consequentialist : Social Contract Theory and Human Rights within Business Explain the difference a non-consequentialist (deontological) ethic and a utilitarian ethic.
Explain inbound telemarketing and outbound telemarketing : a. Explain the difference between inbound telemarketing and outbound telemarketing.
Five of the roles that telemarketing performs : Question 1: Discuss five of the roles that telemarketing performs, citing examples of each to illustrate your answer.
Determine malia employment income for tax purposes : In early 2022, Malia intends to borrow $20,000 from her employer to help her acquire shares in the employer's corporation. A low interest rate of 2% per annum w
How much correct amount of deductions : Debts from gambling losses questioned by decedent while still alive 50,000. How much correct amount of deductions as claims against the estate
Distribution marks in a mathematics : There are 150 students in a class. The distribution if their marks in a mathematics test are as follows
Provide a stakeholder analysis : Map the organization's stakeholders with respect to this issue and provide a stakeholder analysis.
Real-world large data set involving flight data : In this activity, you will analyze a real-world large data set involving flight data and use the advanced features of ggplot to produce graphs of this data.

Reviews

Write a Review

Business Management Questions & Answers

  Horizontal demand curve

Draw and scan a cost curve and using those costs show on your graph using a horizontal demand curve of where the output with a firm in perfect competition

  Signaling theory of mergers amp its relation with payment

signaling theory of mergers amp its relation with payment modeexplain what is the signaling theory of mergers? what is

  Responsible for the resources

If you are a manager of a hardware store and you are responsible for the following resources: human, financial, physical, and informational.

  Describe how logistics alliance would be implemented

Describe how a logistics alliance would be implemented, maintained, and eventually terminated between aviation-related companies.

  How do you integrate python and mysql

How do you integrate Python and MySQL? Can you also explain how you iterate through a JSON field in a Python?

  Describe lofical incrementalism

Describe lofical incrementalism as an approach to change management

  The owners senior vice president

You are the Owner's Senior Vice President. You have been asked to review and revise, where necessary, the attached EPC contract which has been prepared by a contractor.

  Gauge the perception of an employee

Come up with a question to gauge the perception of an employee

  Ability of a food and beverage business to function

The C.R.A.V.E. acronym refers to a number of areas of concern for menu development. Discuss why the "Capacity" part of the acronym may cause some major concerns

  Enhance operational performance

Provide a specific example of how a health care organization conducted benchmarking to enhance operational performance.

  Implement videoconferencing

If you were in charge of a small business, would you choose to implement videoconferencing? What factors would you consider in your decision?

  Discuss the market structure faced by nmsu bookstore

Discuss the market structure faced by NMSU Bookstore (which is operated by Barnes and Noble). Based on the hypothesized market structure, what management action do you recommend to the Bookstore? Be sure that the management actions are tailored to..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd