Tim Jones is an independent I.T. Consultant who services businesses and residential clients on their I.T. needs. The business is a sole proprietorship. He rents an office space to store equipment and supplies and to show clients that the business has a permanent establishment. To provide an upscale service, Tim drives out to clients sites whenever he cannot provide I.T. support remotely or by phone. Tims birthday is March 16, 1980 and his SIN number is 423 456 789. Address at 941 Progress Avenue, Toronto, Ontario, M1G 3T8, with a home phone number of 416- 289-5000. Dana Jones, Tims wife, works as an employee at Staples. Her salary is $40,000 with payroll deductions of $1,861.50 for CPP, $648 for EI and Income Tax Deductions of $6,000. Danas birthday is September 9, 1982 and her SIN is 444 444 442. Same address and contact information as Tim. Tim organized his own business records which shows the following: Sales = $100,000 Advertising = $7,000 Meals with Clients = $4,800 Office expense = $8,850 Rent for office space = $13,700 Golf club membership = $800 Tim uses the den of his house as an office where he works on and keeps the financial records of the business, as well as to contact clients. The den is 350 square feet, while the total square footage of his house is 3,500. Expenses related to the house is as follows for 2020: Heating is $2,000; electricity is $2,000; Mortgage payments of $18,000 of which the interest component is $5,200; Property taxes totaled $5,500; Home insurance is $150 per month; and repairs for a leaking roof totaled $2,200. The vehicle used for the business to go to client sites is a Subaru Forester that Tim bought in July 1, 2019 for $28,000. In 2020, the beginning UCC of the vehicle is $23,800. Total kilometers was 20,000km of which 15,000km was for business purposes. Vehicle expenses for the year are as follows: Fuel = $3,175 Repairs = $550 Insurance = $2,200 License = $130 Tim provides a specialized I.T. service with the help of a unique physical tool. This tool was bought in May 15, 2019 and costed $2,000. He no longer wished to provide this service and had sold the tool for $3,000. The UCC at the start of 2020 was $1,600. In order to meet business demand, Tim had purchased a new computer on September 5, 2020 for $5,000. Other personal information includes: 2019 Donation to Doctors without Borders by Tim - $1,000 2019 Donation to Red Cross by Dana - $1,000 2019-12-31 Eligible medical receipts for Tim - $1,500 2019-12-31 Eligible medical receipts for Dana - $200 Prepare Tim and Danas 2020 T1 personal tax returns with minimum taxes payable. Ignore any GST/HST implications.

Tim Jones is an independent I.T. Consultant who services businesses and residential clients on their I.T. needs. The business is a sole proprietorship. He rents an office space to store equipment and supplies and to show clients that the business has a permanent establishment. To provide an upscale service, Tim drives out to clients' sites whenever he cannot provide I.T. support remotely or by phone. Tim's birthday is March 16, 1980 and his SIN number is 423 456 789. Address at 941 Progress Avenue, Toronto, Ontario, M1G 3T8, with a home phone number of 416- 289-5000 Dana Jones, Tim's wife, works as an employee at Staples. Her salary is $40,000 with payroll deductions of $1,861.50 for CPP, $648 for El and Income Tax Deductions of $6,000. Dana's birthday is September 9, 1982 and her SIN is 444 444 442. Same address and contact information as Tim. Tim organized his own business records which shows the following: Sales = $100,000 Advertising = $7,000 Meals with Clients = $4,800 Office expense = $8,850 Rent for office space = $13,700 Golf club membership = $800 Tim uses the den of his house as an office where he works on and keeps the financial records of the business, as well as to contact clients. The den is 350 square feet, while the total square footage of his house is 3,500. Expenses related to the house is as follows for 2020: Heating is $2,000; electricity is $2,000; Mortgage payments of $18,000 of which the interest component is $5,200; Property taxes totaled $5,500; Home insurance is $150 per month; and repairs for a leaking roof totaled $2,200. The vehicle used for the business to go to client sites is a Subaru Forester that Tim bought in July 1, 2019 for $28,000. In 2020, the beginning UCC of the vehicle is $23,800. Total kilometers was 20,000km of which 15,000km was for business purposes. Vehicle expenses for the year are as follows: Fuel = $3,175 Repairs = $550 Insurance = $2,200 License = $130 Tim provides a specialized I.T. service with the help of a unique physical tool. This tool was bought in May 15, 2019 and costed $2,000. He no longer wished to provide this service and had sold the tool for $3,000. The UCC at the start of 2020 was $1,600. In order to meet business demand, Tim had purchased a new computer on September 5, 2020 for $5,000. Other personal information includes: 2019 Donation to Doctors without Borders by Tim - $1,000 2019 Donation to Red Cross by Dana - $1,000 2019-12-31 Eligible medical receipts for Tim - $1,500 2019-12-31 Eligible medical receipts for Dana - $200 Prepare Tim and Dana's 2020 T1 personal tax returns with minimum taxes payable. Ignore any GST/HST implications