Reference no: EM132821762
During the current year, Ms. Janice has the following costs:
Utility Costs For Home $3,200
Maintenance And Repairs For Home 3,800
Property Taxes For Home 6,400
House Insurance 1,800
Interest On Mortgage 6,200
Ms. Janice estimates that she uses 30 percent of her residence for employment/business related purposes. Maximum CCA (capital cost allowance) on 100 percent of the house would be $15,000 (i.e., treat house CCA as an eligible expense for Ms. Janice self-employed case).
Required:
Problem 1: Determine the maximum deduction that would be available to Ms. Sheridan assuming:
A. She is an employee with $80,000 in income (no commissions).
B. She is an employee with $80,000 in commission income.
C. She is self-employed (proprietor) and earns $80,000 in business income.
|
Produce a professional quality report
: Critically analyse case law and statute relating to repairing covenants in leases and schedules of dilapidations and Interpret client's instruction and produce
|
|
JNB512 International Trade Assignment
: JNB512 International Trade Assignment Help and Solution, University of Tasmania - Assessment Writing Service - Discuss such trade disputes and tension
|
|
How is the value of the benefit classified
: Joey is a travel agent and receives a car parking fringe benefit from his employer. How is the value of this benefit classified? Statutory income
|
|
Develop and justify a promotional campaign
: Idea for a new product or service in an industry of your choice and explain and justify your marketing decisions - come up with a brand name, making
|
|
Determine the maximum deduction that would be available
: Determine the maximum deduction that would be available to Ms. Sheridan assuming She is an employee with $80,000 in income (no commissions).
|
|
Find how much should be recorded as investment income
: Find How much should be recorded as investment income for the current year assuming that the preference share capital of Pen Inc. are non-cumulative?
|
|
How much is the balance of investment in associate
: The investee reported net income of $1,000,000 for the current year. How much is the balance of Investment in Associate at the end of the current year?
|
|
What tiki will show on its year end balance sheet
: Cost $2,000,000 new and is 50% depreciated. The market value of the building is $3,000,000 at year end. Tiki will show on its year end balance sheet
|
|
What attack depreciation recorded would be
: Depreciation provision to the nearest dollar. The fiscal year end is December 31. Based on the information given, Attack depreciation recorded in 2007 would be
|