Schultz Consulting Shultz Consulting is a proprietorship run by Samantha Shultz. She established her business in 2010 and over the years the work has grown and she now has two full time employees. Shultz Consulting is located at 123 Vancouver Street in Victoria V8V 1W1, and the business number is 50057 4399 and Samantha's SIN number is 527 000 509. It is now February 2021 and you have recently been hired by Samantha Shultz to complete the T4s for the 2020 year. Shultz Consulting has only one payroll account. She completed the payroll herself during the year, but needs assistance with the T4s as she is unsure how to enter the taxable benefits. Samantha provides you with the following information about her employees: Yalan Wang (SIN 123 456 782) is her general manager and senior consultant and earns a salary of $125,000 per year. Yalan lives at 852 Gordon Head Road in Victoria V8V 2W2 In addition to the salary, Shultz Consulting paid for a term life insurance policy at $2,500 per year. A couple of years ago, Yalan negotiated that Shultz Consulting also paid into a defined contribution pension plan (a type of RPP) for YaLan (Plan #1234567). Both YaLan and Samantha contributed $8,000 each in 2020 to the plan. Samantha informs you that the pension adjustment to be recorded this year is $16,000. Shultz Consulting also pays the professional dues for YaLan, the dues paid in 2020 were $1,200. Tax deducted from YaLan's paycheques during the year was $38,120 The other employee Manjeet Tamboli (SIN 222 333 445) is a consultant and was paid a salary of $75,000 and had $28,000 in income tax deducted from his paycheque. Manjeet lives at 999 Government Street in Victoria V8V OXO. Manjeet does not pay into the pension plan, nor does he have any professional dues. Both employees had the maximum CPP and El withheld from their paycheques. For the 2020 year, that information is as follows: CPP Maximum Earnings $58,700 $54,200 Maximum Withholdings 2,898.00 856.36 As well as the $10,000 Christmas bonus (already included in the gross payroll amounts noted), Shultz Consulting gave Christmas gifts to all employees. Yalan received a $2.000 Amazon gift card and Manjeet received a 3-D printer valued at $500. Shultz Consulting supplied a vehicle for employees Manjeet to use. The vehicle originally cost $54,000. Manjeet drove the vehicle 42,930 kilometres during the year, 22,000 of which were personal. Manjeet had $6,000 taken off of his paycheque during the year to partially pay back operating expenses. YaLan likes to use her own vehicle and therefore receives an automobile allowance of $650 per month instead. Both Manjeet and Yalan are required under contract to travel to locations that were not their normal place of business to perform their employment duties. Yalan is not required to be away from the municipality for more than 12 hours. She is responsible for her own expenses on her vehicle. On June 1, Manjeet approached Samantha for an employee loan. Shultz Consulting gave him $18,000 and he is paying interest at 1% per year. You have checked and the prescribed rate for each quarter of the year was 3% (use number of days in your calculation for the loan interest benefit, there are 366 days in 2020). Samantha remitted $77,900 in payroll remittances for 2020. Samantha has indicated she prefer you were the contact person for any questions from CRA with respect to the payroll. The office contact number is 250-555-1212. Required: 1. Using the information provided and PDF documents in the assignment folder, prepare one T4 for each of the employees and the T4 summary. 2. Complete the T2200 for YaLan. 3. Upload the completed forms to the assignment folder by the due date provided by your instructor. Please save each T4 file using the first name of the employee and the T2200 and T4Summary with their form name. T4 Project F2020 Schultz Consulting Shultz Consulting is a proprietorship run by Samantha Shultz. She established her business in 2010 and over the years the work has grown and she now has two full time employees. Shultz Consulting is located at 123 Vancouver Street in Victoria V8V 1W1. and the business number is 50057 4399 and Samantha's SIN number is 527 000 509. It is now February 2021 and you have recently been hired by Samantha Shultz to complete the T4s for the 2020 year. Shultz Consulting has only one payroll account. She completed the payroll herself during the year, but needs assistance with the T4s as she is unsure how to enter the taxable benefits. Samantha provides you with the following information about her employees: Yalan Wang (SIN 123 456 782) is her general manager and senior consultant and earns a salary of $125,000 per year. Yalan lives at 852 Gordon Head Road in Victoria V8V 2W2. In addition to the salary, Shultz Consulting paid for a term life insurance policy at $2,500 per year. A couple of years ago, Yalan negotiated that Shultz Consulting also paid into a defined contribution pension plan (a type of RPP) for YaLan (Plan #1234567). Both Yalan and Samantha contributed $8,000 each in 2020 to the plan. Samantha informs you that the pension adjustment to be recorded this year is $16,000. Shultz Consulting also pays the professional dues for Yalan, the dues paid in 2020 were $1,200. Tax deducted from YaLan's paycheques during the year was $38,120. The other employee Manjeet Tamboli (SIN 222 333 445) is a consultant and was paid a salary of $75,000 and had $28,000 in income tax deducted from his paycheque. Manjeet lives at 999 Government Street in Victoria V8V oxo. Manjeet does not pay into the pension plan, nor does he have any professional dues. Both employees had the maximum CPP and El withheld from their paycheques. For the 2020 year, that information is as follows: Maximum Earnings Maximum Withholdings CPP $58,700 2,898.00 $54,200 856.36 As well as the $10,000 Christmas bonus (already included in the gross payroll amounts noted), Shultz Consulting gave Christmas gifts to all employees. YaLan received a $2,000 Amazon gift card and Manjeet received a 3-D printer valued at $500. Shultz Consulting supplied a vehicle for employees Manjeet to use. The vehicle originally cost $54,000. Manjeet drove the vehicle 42,930 kilometres during the year, 22,000 of which were personal. Manjeet had $6,000 taken off of his paycheque during the year to partially pay back operating expenses. YaLan likes to use her own vehicle and therefore receives an automobile allowance of $650 per month instead. Both Manjeet and Yalan are required under contract to travel to locations that were not their normal place of business to perform their employment duties. Yalan is not required to be away from the municipality for more than 12 hours. She is responsible for her own expenses on her vehicle. On June 1, Manjeet approached Samantha for an employee loan. Shultz Consulting gave him $18,000 and he is paying interest at 1% per year. You have checked and the prescribed rate for each quarter of the year was 3% (use number of days in your calculation for the loan interest benefit, there are 366 days in 2020). Samantha remitted $77,900 in payroll remittances for 2020. Samantha has indicated she prefer you were the contact person for any questions from CRA with respect to the payroll. The office contact number is 250-555-1212. Required: 1. Using the information provided and PDF documents in the assignment folder, prepare one T4 for each of the employees and the T4 summary. 2. Complete the T2200 for Yalan. 3. Upload the completed forms to the assignment folder by the due date provided by your instructor Please save each T4 file using the first name of the employee and the T2200 and T4Summary with their form name. Schultz Consulting Shultz Consulting is a proprietorship run by Samantha Shultz. She established her business in 2010 and over the years the work has grown and she now has two full time employees. Shultz Consulting is located at 123 Vancouver Street in Victoria V8V 1W1, and the business number is 50057 4399 and Samantha's SIN number is 527 000 509. It is now February 2021 and you have recently been hired by Samantha Shultz to complete the T4s for the 2020 year. Shultz Consulting has only one payroll account. She completed the payroll herself during the year, but needs assistance with the T4s as she is unsure how to enter the taxable benefits. Samantha provides you with the following information about her employees: Yalan Wang (SIN 123 456 782) is her general manager and senior consultant and earns a salary of $125,000 per year. Yalan lives at 852 Gordon Head Road in Victoria V8V 2W2 In addition to the salary, Shultz Consulting paid for a term life insurance policy at $2,500 per year. A couple of years ago, Yalan negotiated that Shultz Consulting also paid into a defined contribution pension plan (a type of RPP) for YaLan (Plan #1234567). Both YaLan and Samantha contributed $8,000 each in 2020 to the plan. Samantha informs you that the pension adjustment to be recorded this year is $16,000. Shultz Consulting also pays the professional dues for YaLan, the dues paid in 2020 were $1,200. Tax deducted from YaLan's paycheques during the year was $38,120 The other employee Manjeet Tamboli (SIN 222 333 445) is a consultant and was paid a salary of $75,000 and had $28,000 in income tax deducted from his paycheque. Manjeet lives at 999 Government Street in Victoria V8V OXO. Manjeet does not pay into the pension plan, nor does he have any professional dues. Both employees had the maximum CPP and El withheld from their paycheques. For the 2020 year, that information is as follows: CPP Maximum Earnings $58,700 $54,200 Maximum Withholdings 2,898.00 856.36 As well as the $10,000 Christmas bonus (already included in the gross payroll amounts noted), Shultz Consulting gave Christmas gifts to all employees. Yalan received a $2.000 Amazon gift card and Manjeet received a 3-D printer valued at $500. Shultz Consulting supplied a vehicle for employees Manjeet to use. The vehicle originally cost $54,000. Manjeet drove the vehicle 42,930 kilometres during the year, 22,000 of which were personal. Manjeet had $6,000 taken off of his paycheque during the year to partially pay back operating expenses. YaLan likes to use her own vehicle and therefore receives an automobile allowance of $650 per month instead. Both Manjeet and Yalan are required under contract to travel to locations that were not their normal place of business to perform their employment duties. Yalan is not required to be away from the municipality for more than 12 hours. She is responsible for her own expenses on her vehicle. On June 1, Manjeet approached Samantha for an employee loan. Shultz Consulting gave him $18,000 and he is paying interest at 1% per year. You have checked and the prescribed rate for each quarter of the year was 3% (use number of days in your calculation for the loan interest benefit, there are 366 days in 2020). Samantha remitted $77,900 in payroll remittances for 2020. Samantha has indicated she prefer you were the contact person for any questions from CRA with respect to the payroll. The office contact number is 250-555-1212. Required: 1. Using the information provided and PDF documents in the assignment folder, prepare one T4 for each of the employees and the T4 summary. 2. Complete the T2200 for YaLan. 3. Upload the completed forms to the assignment folder by the due date provided by your instructor. Please save each T4 file using the first name of the employee and the T2200 and T4Summary with their form name. T4 Project F2020 Schultz Consulting Shultz Consulting is a proprietorship run by Samantha Shultz. She established her business in 2010 and over the years the work has grown and she now has two full time employees. Shultz Consulting is located at 123 Vancouver Street in Victoria V8V 1W1. and the business number is 50057 4399 and Samantha's SIN number is 527 000 509. It is now February 2021 and you have recently been hired by Samantha Shultz to complete the T4s for the 2020 year. Shultz Consulting has only one payroll account. She completed the payroll herself during the year, but needs assistance with the T4s as she is unsure how to enter the taxable benefits. Samantha provides you with the following information about her employees: Yalan Wang (SIN 123 456 782) is her general manager and senior consultant and earns a salary of $125,000 per year. Yalan lives at 852 Gordon Head Road in Victoria V8V 2W2. In addition to the salary, Shultz Consulting paid for a term life insurance policy at $2,500 per year. A couple of years ago, Yalan negotiated that Shultz Consulting also paid into a defined contribution pension plan (a type of RPP) for YaLan (Plan #1234567). Both Yalan and Samantha contributed $8,000 each in 2020 to the plan. Samantha informs you that the pension adjustment to be recorded this year is $16,000. Shultz Consulting also pays the professional dues for Yalan, the dues paid in 2020 were $1,200. Tax deducted from YaLan's paycheques during the year was $38,120. The other employee Manjeet Tamboli (SIN 222 333 445) is a consultant and was paid a salary of $75,000 and had $28,000 in income tax deducted from his paycheque. Manjeet lives at 999 Government Street in Victoria V8V oxo. Manjeet does not pay into the pension plan, nor does he have any professional dues. Both employees had the maximum CPP and El withheld from their paycheques. For the 2020 year, that information is as follows: Maximum Earnings Maximum Withholdings CPP $58,700 2,898.00 $54,200 856.36 As well as the $10,000 Christmas bonus (already included in the gross payroll amounts noted), Shultz Consulting gave Christmas gifts to all employees. YaLan received a $2,000 Amazon gift card and Manjeet received a 3-D printer valued at $500. Shultz Consulting supplied a vehicle for employees Manjeet to use. The vehicle originally cost $54,000. Manjeet drove the vehicle 42,930 kilometres during the year, 22,000 of which were personal. Manjeet had $6,000 taken off of his paycheque during the year to partially pay back operating expenses. YaLan likes to use her own vehicle and therefore receives an automobile allowance of $650 per month instead. Both Manjeet and Yalan are required under contract to travel to locations that were not their normal place of business to perform their employment duties. Yalan is not required to be away from the municipality for more than 12 hours. She is responsible for her own expenses on her vehicle. On June 1, Manjeet approached Samantha for an employee loan. Shultz Consulting gave him $18,000 and he is paying interest at 1% per year. You have checked and the prescribed rate for each quarter of the year was 3% (use number of days in your calculation for the loan interest benefit, there are 366 days in 2020). Samantha remitted $77,900 in payroll remittances for 2020. Samantha has indicated she prefer you were the contact person for any questions from CRA with respect to the payroll. The office contact number is 250-555-1212. Required: 1. Using the information provided and PDF documents in the assignment folder, prepare one T4 for each of the employees and the T4 summary. 2. Complete the T2200 for Yalan. 3. Upload the completed forms to the assignment folder by the due date provided by your instructor Please save each T4 file using the first name of the employee and the T2200 and T4Summary with their form name