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I want the solution ASAP 28 Introduction to Federal Income Taxation in Caneda Question8(18 minutes) [Chapter 3] Robert is a salesperson cmployed by Candy-Land Limited,
I want the solution ASAP
28 Introduction to Federal Income Taxation in Caneda Question8(18 minutes) [Chapter 3] Robert is a salesperson cmployed by Candy-Land Limited, He receives commission based on sales. During 2016, Robert received total commission income of S15,000. He is having trouble determining what expenditures will be deductible by him in computing his 2016 income from employment for tax purposes. He provides you wish the folilowing list of expenditures incured by him during 2016. All of these expenditures ure required to be paid by Robert under his contracl of employment and, where necessary, his employer will duly sign form T2200. Travel Costs: Meals (consumed while truvelling more than 12 hours from employer's main office) 800 Bus And taxi fares 325 Automobile operating expenses correctly computed or lax purposes based an 85% employment use of automobile 5.800 Opening UCC an automobile purchased last year and used 85% in 2016 for employment purposes; the applicable CCA rate is 30% 25,415 Home ofice space expenses (the following are 100% of the relevant costs for the year, Robert's home office occupies approximately 15% of the total square footage of his home). Assume that Robert meets the criteria set out in teIome Tar Act for deducting home office expenses. Property laxes: 5,500 480 150 6,000 5000 House insurance Repairs and naintene Mongage interest Uilities ienerul office expenses: Cost of renled computer, printer, ax and photocupy machine Paper and other supplies $1,630 Promotion expenses: Christmas curds, business curds and lellerheud Christmas gifts to large clients (not meals or entertainmem) $1050 Client enterlainment expenses: Mezls with client Theatre tickets given to clients $2,400 1200 Required (A) Calculate Robert's maximum 2016 deductibie employment expenses for tax purposes. (B) Briefly comment on uny items excluded from your calculationStep by Step Solution
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