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Facts Valerie Lawson and Clara Norman are the sole equal shareholders in the corporation of Lawson And Norman Enterprises, Inc. The corporation, which is a retail office suppl
Individual Retirement Account (IRA) - An IRA is a personal savings plan which allows an individual to make cash contributions per year dependent on individual's adjusted gross inco
Alec Smart is 59 years of age and is planning for his retirement. Following a visit to his financial adviser in March of the current tax year, Alec wants to contribute funds to his
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what is capital allowance
presumptive tax is one way of enforcing compliance with the tax requirements.you are required to define presumptive tax and give examples of situations where presumptive tax is app
Microrax Company earned before-tax income of $960,000 for its 2013 fiscal year. During the year the company experienced a $605,000 loss from earthquake damage that it considered to
In April 2016, Reiko purchased and placed a rental house in service. She paid $184,000, including $27,000 for the land. Compute her 2016 depreciation on the rental.
During 2011, C Ltd. A public corporation has net income for tax purposes of $600,000 including $100,000 of dividends from taxable Canadian corporations and $500,000 of retailing pr
Gustav Ltd commenced operations on 1 July 2011 and presents its first statement of comprehensive income for the year ending 30 June 2012 and first statement of financial position a
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