User Account

All Pages

What is company small business deduction for the taxation

Assignment Help Accounting Basics
Reference no: EM133050956

Question - MRV, a Canadian-controlled private corporation, has requested your assistance with respect to the calculation of the company's Small Business Deduction for the taxation year 2020. MRV has provided you with the following information.

MRV has December 31 taxation year end, the corporation correctly reported:

Canadian Active business income $320,000

Canadian Investment income 17,000

Taxable Income 316,000

Net Capital loss 8,000

MRV is not associated with any other corporation. Taxable capital employed in Canada in 2019 was$11.9 million.

Required - What is the company's Small Business Deduction for the taxation year 2020?

Reference no: EM133050956

Questions Cloud

Security measures for good database security : What are the strategic and technical security measures for good database security?
Potential areas for non-compliance and unethical practice : -What are the potential areas for non-compliance and unethical practice within Interior Design and how would you deal with this?
Organization overall strategy : Discusses strategy and how ERM can be integrated with an organization's overall strategy.
Company marketing initiatives and finance philosophy : Look again at the issues of organization structure. Both supply chain structure and organization structure impact a company's ability to successfully pursue its
What is company small business deduction for the taxation : Taxable capital employed in Canada in 2019 was$11.9 million. What is the company's Small Business Deduction for the taxation year 2020
Purpose of the organisational policies and procedures : Explain the purpose of the organisational policies and procedures relating to the following in 100-150 words:
Considering importance of data in organization : Considering the importance of data in organization, it is absolutely essential to secure the data present in the database.
Explain the key features of industry standards : Explain the key features of industry standards relating to data analysis for research society in 70-120 words.
Calculate and report the gross profit and operating cf : Consider the following financial information pertaining to a firm in a particular year: Rev 1,000. Calculate and report the Gross Profit and Operating CF

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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