Taxation

please answer in full and quickly for up vote

tor the threo years ending December 31,2022, the taxpayor's combined federal and provincal tax piryable wirs as shown in the accomparrying table Vixw the combenend toxes naynale. Viriv the cases. Read the rogairerments Combined Taxes Payable Cases Requirement 1. Indicate whether instalments are required during 2022 . Provide a brief explanation of your conclusion. This explanation should be provided even if the amount of the required instalments is nil. Indicate whether instalments are required during 2022 in Case One. Choose the correct answer. A. Instalments are required because the net tax owing exceeds $3,000 in the current year and one of the two preceding years. B. Instalments are not required because the net tax owing does not exceed $10,000 in the current year C. Instalments are not required because the net tax owing exceeds $3,000 in the current year but only one of the two preceding years. D. Instalments are required because the net tax owing exceeds $3,000 in the current year as well as both of the previous two years. Indicate whether instaiments are required during 2022 in Case Two. Choose the correct answer. A. Instalments are required because the net tax owing exceeds $3,000 in the current year as well as both of the previous two years. B. Instalments are not required because the net tax owing does not exceed $10,000 in the current year: C. Instalments are required because the net tax owing exceeds $10,000 in the current year. D. Instalments are required because the net tax owing exceeds $3,000 in the current year and one of the two preceding years. Indicate whether instalments are required during 2022 in Case Three. Choose the correct answer A. Instalments are not required because the tax payable exceeds $3,000 in the current year but only one of the two preceding years. B. Instaiments are required because the tax payable exceeds $3,000 in the current year as well as the preceding year. C. Instaiments are not required because the tax payable does not exceed $10,000 in the current year. D. Instalments are required because the tax payable exceeds $3,000 in the current year as well as both of the previous two years. Indicate whether instalments are required during 2022 in Case Four. Choose the correct answer. A. Instalments are required because the tax payable exceeds $3,000 min the current year as well as both of the previous two years B. Instalments are not required because the tax payable does not exceed $10,000 in the current year C. Instalments are required because the tax payable exceeds $3,000 in the current year as well as the preceding year. D. Instalments are not required because the tax payable exceeds $3,000 in the current year but only one of the two preceding years. Requirement 2. If instaiments are required, calculate the amount of instalments that would be required under each of the acceptable methods available. Calculate the instalment amount under Case One when quarterly instaiments are calculated based on the current year estimate. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instaiment amount? Calculate the instalment amount under Case One when quarterly instalments are calculated based on the first preceding year. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instalment amount? Calculate the remaining two quarterly instalments under Case One if the first two instalments are nil based on the second preceding year. (If no instalments are required, make sure to enter" 0 in the appropriate input field.) What is the amount for each of the remaining two instalments? Calculate the instalment amount under Case Two when quarterly instalments are calculated based on the current year estimate. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instalment amount? Calculate the instalment amount under Case Two when quarterly instalments are calculated based on the first preceding year. (If no instalments are required, make sure to enter " 0 " in the appropriate input field) What is the instaiment amount? Calculate the first two quarterly instalments under Case Two based on the second preceding year. Then calculate the remaining two instalments. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the amount for each of the first two instalments? What is the amount for each of the last two instalments? Calculate the instalment amount under Case Three when quarterly instalments are calculated based on the current year estimate. (If no instalments are required, make sure to enter "0" in the appropriate input field.) What is the instalment amount? Calculate the instalment amount under Case Three when quarterly instalments afie calculated based on the first preceding year. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instalment amount? Calculate the first quarterly instalment under Case Three based on the second preceding year. Then calculate the remaining three instalments. (Round your answer to the nearest whole dollar. If no instalments are required, make sure to enter "0" in the appropriate input field.) What is the first instalment amount? What is the amount for each of the last three instalments? Calculate the instalment amount under Case Four when monthly instalments are calculated based on the current year estimate. (Round your answer to the nearest whole dollar If no instalments are required, make sure to enter Calculate the instalment amount under Case Four when monthly instalments are calculated based on the first preceding year. (Round your answer to the nearest whole dollar. If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instalment amount? Calculate the first two monthly instalments under Case Four based on the second preceding year. Then calculate the remaining ten monthly instalments. (Round your answer to the nearest whole dollar. If no instalments are required, make sure to enter "0" in the appropriate input field.) What is the amount for each of the first two instalments? What is the amount for each of the last ten instalments? Requirement 3 . If instalments are required, indicate which of the available methods would best serve to minimize instalment payments during 2021. If instalments must be paid, indicate the date on which they are due. Which method would best minimize instalment payments in Case One? A. The best alternative to minimize instaiments would be qeverterly instalments based on the current year estimate. B. The best alternative to minimize instalments would be two instalments of $0 based on the second preceding year followed by two larger instalments. C. The best alternative to minimize instalments would be quarterly instalments based on the first preceding year. D. No quarterly instalments are required. Which method would best minimize instalment payments in Case Two? A. The best alternative to minimize instaiments would be quarterly instaiments based on the current year estimate. B. The best allemative to minimize instalments would be quarterly instalments based on the first preceding year. C. The best alternative to minimize instalments would be to make one payment based on the second preceding year followed by three larger instalments. D. The best alternative to minimize instalments would be two instalments based on the second preceding year followed by two larger instalments. Which method would best minimize instalment payments in Case Three? A. The best altemative to minimize instalments would be quarterly instalments based on the first preceding year. B. The best alternative to minimize instalments would be quarterly instalments based on the current year estimate. C. The best alternative to minimize instalments would be to make one payment based on the second preceding year followed by three larger instalments. D. No quarterly instalments are required. Which method would best minimize instalment payments in Case Four? A. The best alternative to minimize instalments would be to make two monthly instalments based on the second preceding year followed by ten larger instalments. B. The best alternative to minimize instalments would be monthly instalments based on the current year estimate. C. The best alternative to minimize instalments would be monthly instalments based on the first preceding year D. No instalments are required. When would instalments be due in Case One? A. The instalments are due on March 31, June 30, September 30, and Deceniber 31, 2022. B. The instalments are due on April 15, July 15, October 15, and January 15, 2022. C. The instalments are due on March 15, June 15, September 15, and December 15, 2022. D. No quarterly instalments are required. When would instalments be due in Case Two? A. The instalments are due on March 15, June 15, September 15, and December 15, 2022. B. The instalments are due on Apri 15, July 15, October 15, and January 15, 2022. C. The instalments are due on May 1. August 1, November 1, and February 1, 2022. When would instalments be due in Case Three? A. The instalments are due on March 31, June 30, September 30, and December 31, 2022. B. The instalments are due on March 15, June 15, September 15, and December 15, 2022. C. The instalments are due on April 15, July 15 , October 15 , and January 15,2022. D. No quarterly instalments are required. When would instalments be due in Case Four? A. The instalments would be due on the last day of each month, beginning in January 2022. B. The instalments would be due on the 15 th day of each month, beginning in January 2022. C. The instalments would be due on the last day of each month, beginning in April 2022. D. The instalments would be due on the 15th day of each month, beginning in April 2022. tor the threo years ending December 31,2022, the taxpayor's combined federal and provincal tax piryable wirs as shown in the accomparrying table Vixw the combenend toxes naynale. Viriv the cases. Read the rogairerments Combined Taxes Payable Cases Requirement 1. Indicate whether instalments are required during 2022 . Provide a brief explanation of your conclusion. This explanation should be provided even if the amount of the required instalments is nil. Indicate whether instalments are required during 2022 in Case One. Choose the correct answer. A. Instalments are required because the net tax owing exceeds $3,000 in the current year and one of the two preceding years. B. Instalments are not required because the net tax owing does not exceed $10,000 in the current year C. Instalments are not required because the net tax owing exceeds $3,000 in the current year but only one of the two preceding years. D. Instalments are required because the net tax owing exceeds $3,000 in the current year as well as both of the previous two years. Indicate whether instaiments are required during 2022 in Case Two. Choose the correct answer. A. Instalments are required because the net tax owing exceeds $3,000 in the current year as well as both of the previous two years. B. Instalments are not required because the net tax owing does not exceed $10,000 in the current year: C. Instalments are required because the net tax owing exceeds $10,000 in the current year. D. Instalments are required because the net tax owing exceeds $3,000 in the current year and one of the two preceding years. Indicate whether instalments are required during 2022 in Case Three. Choose the correct answer A. Instalments are not required because the tax payable exceeds $3,000 in the current year but only one of the two preceding years. B. Instaiments are required because the tax payable exceeds $3,000 in the current year as well as the preceding year. C. Instaiments are not required because the tax payable does not exceed $10,000 in the current year. D. Instalments are required because the tax payable exceeds $3,000 in the current year as well as both of the previous two years. Indicate whether instalments are required during 2022 in Case Four. Choose the correct answer. A. Instalments are required because the tax payable exceeds $3,000 min the current year as well as both of the previous two years B. Instalments are not required because the tax payable does not exceed $10,000 in the current year C. Instalments are required because the tax payable exceeds $3,000 in the current year as well as the preceding year. D. Instalments are not required because the tax payable exceeds $3,000 in the current year but only one of the two preceding years. Requirement 2. If instaiments are required, calculate the amount of instalments that would be required under each of the acceptable methods available. Calculate the instalment amount under Case One when quarterly instaiments are calculated based on the current year estimate. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instaiment amount? Calculate the instalment amount under Case One when quarterly instalments are calculated based on the first preceding year. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instalment amount? Calculate the remaining two quarterly instalments under Case One if the first two instalments are nil based on the second preceding year. (If no instalments are required, make sure to enter" 0 in the appropriate input field.) What is the amount for each of the remaining two instalments? Calculate the instalment amount under Case Two when quarterly instalments are calculated based on the current year estimate. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instalment amount? Calculate the instalment amount under Case Two when quarterly instalments are calculated based on the first preceding year. (If no instalments are required, make sure to enter " 0 " in the appropriate input field) What is the instaiment amount? Calculate the first two quarterly instalments under Case Two based on the second preceding year. Then calculate the remaining two instalments. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the amount for each of the first two instalments? What is the amount for each of the last two instalments? Calculate the instalment amount under Case Three when quarterly instalments are calculated based on the current year estimate. (If no instalments are required, make sure to enter "0" in the appropriate input field.) What is the instalment amount? Calculate the instalment amount under Case Three when quarterly instalments afie calculated based on the first preceding year. (If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instalment amount? Calculate the first quarterly instalment under Case Three based on the second preceding year. Then calculate the remaining three instalments. (Round your answer to the nearest whole dollar. If no instalments are required, make sure to enter "0" in the appropriate input field.) What is the first instalment amount? What is the amount for each of the last three instalments? Calculate the instalment amount under Case Four when monthly instalments are calculated based on the current year estimate. (Round your answer to the nearest whole dollar If no instalments are required, make sure to enter Calculate the instalment amount under Case Four when monthly instalments are calculated based on the first preceding year. (Round your answer to the nearest whole dollar. If no instalments are required, make sure to enter " 0 " in the appropriate input field.) What is the instalment amount? Calculate the first two monthly instalments under Case Four based on the second preceding year. Then calculate the remaining ten monthly instalments. (Round your answer to the nearest whole dollar. If no instalments are required, make sure to enter "0" in the appropriate input field.) What is the amount for each of the first two instalments? What is the amount for each of the last ten instalments? Requirement 3 . If instalments are required, indicate which of the available methods would best serve to minimize instalment payments during 2021. If instalments must be paid, indicate the date on which they are due. Which method would best minimize instalment payments in Case One? A. The best alternative to minimize instaiments would be qeverterly instalments based on the current year estimate. B. The best alternative to minimize instalments would be two instalments of $0 based on the second preceding year followed by two larger instalments. C. The best alternative to minimize instalments would be quarterly instalments based on the first preceding year. D. No quarterly instalments are required. Which method would best minimize instalment payments in Case Two? A. The best alternative to minimize instaiments would be quarterly instaiments based on the current year estimate. B. The best allemative to minimize instalments would be quarterly instalments based on the first preceding year. C. The best alternative to minimize instalments would be to make one payment based on the second preceding year followed by three larger instalments. D. The best alternative to minimize instalments would be two instalments based on the second preceding year followed by two larger instalments. Which method would best minimize instalment payments in Case Three? A. The best altemative to minimize instalments would be quarterly instalments based on the first preceding year. B. The best alternative to minimize instalments would be quarterly instalments based on the current year estimate. C. The best alternative to minimize instalments would be to make one payment based on the second preceding year followed by three larger instalments. D. No quarterly instalments are required. Which method would best minimize instalment payments in Case Four? A. The best alternative to minimize instalments would be to make two monthly instalments based on the second preceding year followed by ten larger instalments. B. The best alternative to minimize instalments would be monthly instalments based on the current year estimate. C. The best alternative to minimize instalments would be monthly instalments based on the first preceding year D. No instalments are required. When would instalments be due in Case One? A. The instalments are due on March 31, June 30, September 30, and Deceniber 31, 2022. B. The instalments are due on April 15, July 15, October 15, and January 15, 2022. C. The instalments are due on March 15, June 15, September 15, and December 15, 2022. D. No quarterly instalments are required. When would instalments be due in Case Two? A. The instalments are due on March 15, June 15, September 15, and December 15, 2022. B. The instalments are due on Apri 15, July 15, October 15, and January 15, 2022. C. The instalments are due on May 1. August 1, November 1, and February 1, 2022. When would instalments be due in Case Three? A. The instalments are due on March 31, June 30, September 30, and December 31, 2022. B. The instalments are due on March 15, June 15, September 15, and December 15, 2022. C. The instalments are due on April 15, July 15 , October 15 , and January 15,2022. D. No quarterly instalments are required. When would instalments be due in Case Four? A. The instalments would be due on the last day of each month, beginning in January 2022. B. The instalments would be due on the 15 th day of each month, beginning in January 2022. C. The instalments would be due on the last day of each month, beginning in April 2022. D. The instalments would be due on the 15th day of each month, beginning in April 2022