Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mara Poirier works for Affordable Transport in Quebec and eams an annual salary of $ 4 8 , 5 0 0 . 0 0 paid

Mara Poirier works for Affordable Transport in Quebec and eams an annual salary of $48,500.00 paid on a weekly basis. In addition to her regular salary, Mara\'s employer provides group term life insurance coverage through a third party of two times her annual salary. The monthly group term life insurance premiums are $0.66 per $1,000.00 of coverage, excluding taxes. Her employer also provides private health insurance benefits with a monthly premium of $240.00, excluding taxes. The tax on insurance premiums in Quebec is 9%. Her federal TD1 claim code is 2 and her provincial TP-1015.3-V deduction code is B. Mara will not reach the Quebec Pension Plan, Employment Insurance or Quebec Parental Insurance Plan annual maximums this pay period.
Calculate the employee\'s net pay, following the order of the steps in the net pay?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Concepts In Federal Taxation

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

19th Edition

978-0324379556, 324379552, 978-1111579876

More Books

Students also viewed these Accounting questions