Is required to make instalment payments

Reference no: EM132670827

Problem 1: During the year, Emerson has a net employment income of $123,480, in- terest income of $4622,taxable capital gain of $24246. He has allowable capital losses of $4835. He has deductible child care costs of $9372. Calculate the net income.

Problem 2: John Doe,a resident of Ontario has a net tax owing for 2014 of $3200, net tax owing for 2015 of $1250 and the net tax owing for 2016 is expected to be $4500. Is he required to make instalment payments? if yes? how much and at what date(S)?

Reference no: EM132670827

Questions Cloud

Formulation and implementation of firm strategy : Explain Corporate Scenarios and then describe how they can have an effect on the formulation and implementation of a firm's strategy.

Prepare a memo discussing your approach to the situation : Write a letter to Nell advising her of the tax consequences and how taxes can be minimized. Prepare a memo discussing your approach to the situation

Identify a specific evidence-based topic : In collaboration with the approved course preceptor, students will identify a specific evidence-based topic for the capstone project change proposal.

Describe your acculturation experience as a new graduate : Describe your acculturation experience as a new graduate to the culture of the nursing profession. How is it similar or different from the acculturation.

Is required to make instalment payments : Net tax owing for 2015 of $1250 and the net tax owing for 2016 is expected to be $4500. Is he required to make instalment payments?

Project management : Compare the main strengths and weaknesses of the Gantt chart and PERT for project management,

Define the seven types of elder abuse : List and define the seven types of elder abuse that were identified by the National Center on Elder Abuse (NCEA). How would you approach the Ethical Dilemmas.

What are the available amount of the exclusion : Can Pedro use the § 121 exclusion if he and Maria file a joint return? If so, what are the available amount of the exclusion and the recognized gain

What do large private corporation and public corporation : What do large private corporation and public corporation have in common if any when it comes to taxation. if there is nothing in common

User Account

All Pages