Answered step by step
Verified Expert Solution
Question
1 Approved Answer
3% corporate tax rate total tax rate 12% income generated is 140000.00 personal tax credit of 7842 and requires 75000.00 before tax for living expenses
3% corporate tax rate total tax rate 12% income generated is 140000.00 personal tax credit of 7842 and requires 75000.00 before tax for living expenses and wants to maximize cpp contributions. salary is 66,600 maximum cpp contribution is 3754. she gets dividends of 8400. compare this scenario to if she just got a salary of 75000 and include cpp payroll withholding considertion
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started