How much can claim for moving expenses in the year

Assignment Help Financial Accounting
Reference no: EM132584839

Maxine used to work and live in Alberta but has accepted a new job in Ontario. The new job has a starting salary of $90,000 per year, or $7,500 per month. She moved herself, her spouse and her child there in October, so she could start her new job on November 1. While they had rented their accommodations in Alberta, they bought a new house in Ontario.

She incurred the following expenses as a result of the move:

canceling the lease on their rental apartment, $1,200.

hiring movers to pack and move their household effects, $12,000.

legal fees on the house purchase, $1,400.

land transfer tax on the house purchase, $3,000.

cost of disconnecting utilities in Alberta, $100.

cost of connecting utilities in Ontario, $200.

airfare from Alberta to Ontario, $3,300.

Lunch for the three of them between connecting flights, $40

Required:

Question 1: How much can she claim for moving expenses in the year of the move?

Reference no: EM132584839

Questions Cloud

Define and elaborates security trading in detail : Explain the guidelines to invest in the stock market, in your opinion which one is the most important? Define a Broker and Jobber
Examples of individual and organizational sources of power : What are some examples of individual and organizational sources of power and their consequences for followers and organizations?
Define a broker and jobber : Define a Broker and Jobber? What are the differences between these two highlight and explain it?define and elaborate security trading in detail
Describe adult offender treatment approaches and programs : Theorists such as Jean Piaget and Erik Erikson have documented the psychological skills and psychosocial needs of juveniles as being different from those.
How much can claim for moving expenses in the year : Maxine used to work and live in Alberta but has accepted a new job in Ontario. How much can claim for moving expenses in the year of the move?
Developed zinc-finger nucleases : Sangamo Biosciences had developed zinc-finger nucleases (ZFNs), a technology that could edit the genes of a living individual.
Examine the rationales of regulations for financial : Examine the rationales of regulations for financial institutions as well as financial sector.
Explain the benefits to the family involvement : Explain how forensic treatment practitioners can involve family in the treatment of juvenile offenders. Then, explain the benefits and challenges to the family.
How much should the company charge as an average premium : How much should the company charge as an average premium so that it breaks even on its claim costs? Calculate the expected value.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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