Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Taxation Question 6 12 points John works as a commissioned salesperson. In 2021, he received a base salary of $75,000, and $10,000 in commission. John
Taxation
Question 6 12 points John works as a commissioned salesperson. In 2021, he received a base salary of $75,000, and $10,000 in commission. John worked away from the office negotiating sales contracts, and he is required to pay his own vehicle and promotional expenses. His employer has signed a Form T2200 certifying that requirement and certifying that no reimbursements are paid for any of these expenses. John drove his car a total of 21,000 kilometres in 2021 and 7,000 were employment related John's relevant expenses during 2021 are as follows: Advertising and Promotion $3,000 Meals and Entertainment with Clients 6,000 Vehicle Operating Costs 4,000 Instructions: This question requires you fill in the table below. Do not leave any blanks - enter 0 if applicable. Enter all values as positive numbers: Expenses deductible under 8(1)(1). 8(1)(h.1) Advertising and Promotion Meals & Entertainment with Clients Vehicle Operating Costs Total Limited to (in dollars) John will prefer to deduct total employment expenses in the amount of $ under Section 8(1)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started