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please help urgent . Question 1: Taxable Income Mr. Allen Arnold is 58 years old. Allen works for a large public company, Big Corporation as

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Question 1: Taxable Income Mr. Allen Arnold is 58 years old. Allen works for a large public company, Big Corporation as an accountant. Allen is in the process of completing her 2017 personal income tax retunn Required: Allen needs your help to calculate his Taxable Income for 2017 He has compiled the following information regarding to his transactions in 2017 Salary (gross) $103,000 Deductions Canada Pension Plan (CPP Employment insurance (EI Income tax Registered Private health and dental plan premiums Disability insurance premiums Reimbursement for use of company car $2,564 836 10,800 3,500 250 1,200 600 sion plan Big Corporation paid the following amounts on his behalf: CPP and E Private health and dental plan premiums Group term life insurance Disability insurance premiums Registered Pension Plan $3,881 250 350 250 3,000 Other information: 1. As part of his employment duties, Allen is required to travel to different company branches throughout Alberta to perform accounting tasks. Big Corporation provides him with a 2017 Toyota Prius and paid for all of the operating expenses. He drove the vehicle a total of 31,000 km in the year with 8,000 being for personal usage. The vehicle was purchased by the employer for $47,000. It was available for his use for the entire year. The operating expenses for the year totaled S8,500 2. The disability plan was implemented in 2015. Allen paid $200 in annual premiums in 2015 and $500 in 2016. In the current year, as a result of an unfortunate accident he sustained an injury and was unable to work. He was off for 6 weeks and collected S8,000 from the insurance company 3. On January 1, 2017, Big Corporation implemented a stock purchase plan for al employees giving them the opportunity to purchase up to 5,000 common shares at S10 per share. At that time the shares were valued at $5.00 per share. On February 14, 2017 Allen purchased 5,000 shares when they were valued at $18 per share. He sold 2,000 shares for $30 per share on September 27, 2017 Question 1: Taxable Income Mr. Allen Arnold is 58 years old. Allen works for a large public company, Big Corporation as an accountant. Allen is in the process of completing her 2017 personal income tax retunn Required: Allen needs your help to calculate his Taxable Income for 2017 He has compiled the following information regarding to his transactions in 2017 Salary (gross) $103,000 Deductions Canada Pension Plan (CPP Employment insurance (EI Income tax Registered Private health and dental plan premiums Disability insurance premiums Reimbursement for use of company car $2,564 836 10,800 3,500 250 1,200 600 sion plan Big Corporation paid the following amounts on his behalf: CPP and E Private health and dental plan premiums Group term life insurance Disability insurance premiums Registered Pension Plan $3,881 250 350 250 3,000 Other information: 1. As part of his employment duties, Allen is required to travel to different company branches throughout Alberta to perform accounting tasks. Big Corporation provides him with a 2017 Toyota Prius and paid for all of the operating expenses. He drove the vehicle a total of 31,000 km in the year with 8,000 being for personal usage. The vehicle was purchased by the employer for $47,000. It was available for his use for the entire year. The operating expenses for the year totaled S8,500 2. The disability plan was implemented in 2015. Allen paid $200 in annual premiums in 2015 and $500 in 2016. In the current year, as a result of an unfortunate accident he sustained an injury and was unable to work. He was off for 6 weeks and collected S8,000 from the insurance company 3. On January 1, 2017, Big Corporation implemented a stock purchase plan for al employees giving them the opportunity to purchase up to 5,000 common shares at S10 per share. At that time the shares were valued at $5.00 per share. On February 14, 2017 Allen purchased 5,000 shares when they were valued at $18 per share. He sold 2,000 shares for $30 per share on September 27, 2017

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