ABC Company started their business on July 1, 2020. ABC Company had two employees in the year 2020:Jane and Larry.The payroll is run semi-monthly.

Larry estimates that his 2020 net income will be $10,000 for TD-1 purposes.

Assume Jane and Larry work the entire period from July1 to December 31, 2020 or 6 month.

The following payroll data was provided for Jane and Larry:

Jane(40 yrs. old) Larry(75 yrs. Old and Disabled) Annual Salary $24,000 $48,000 Claim Codes Fed. 4 Prov. 5 To determine Spouse 60 years old Estimated Net Income: $50,000 No Children No Children Tuition $2,000, Seneca Part Time 4 months. Private Pension Income from Sun Estimated, $5,000 per year Life Assurance. (Pension Income) Registered Pension Plan (RPP) $50 per pay $50 per pay Deduction