Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question: Year End In this question you will need to complete the boxes for a T4 for Martha a Majic employe... Year End In this

Question: Year End In this question you will need to complete the boxes for a T4 for Martha a Majic employe...

Year End

In this question you will need to complete the boxes for a T4 for Martha a Majic employee, using the following information. Enter your answers in the grid provided below the copy of the T4. This would be her 2020 T4.

1. Gross earings = $63500.00

2. Her taxable benefit for Group term life insurance was $81.50

3.Her taxable benefit for AD&D was $16.25

4.Her employer paid Health and Dental was $440.00

5. Her total Federal and Provincial Taxes were $8825.33

6.Her union dues were $104.00

7.You will need to calculated her CPP and EI deductions.

Description answer
Company
Year
Box10 province of Employment income
Box14 Employment Income
Box16 Employee's CPP contributions
Box 18 Employee's EI premiums
Box 22 Income Tax deducted
Box 24 EI insurable earnings
Box 26 CPP/QPP pensionable earnings
Other Information- Code/Box #44
Other Information- Code/Box #40

Explain why you would not issue a T4A for Martha

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_2

Step: 3

blur-text-image_3

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

More Books

Students also viewed these Accounting questions

Question

What is operatiing system?

Answered: 1 week ago