Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Were you being a tax professional work for A & B tax consultant corp. Victoria, new client ask you to help her to understand and
Were you being a tax professional work for A \& B tax consultant corp. Victoria, new client ask you to help her to understand and prepare her tax return for 20X9 She wants to know her max RRSP deduction, and she wants to use it all to reduce her taxes. Also, she want you to calculate and explain what is her minimum Net income for Tax Purpose, her minimum Taxable Income, and her minimum Federal tax Payables. Finally, she needs to know her tax credits and how much her tax refund or owe from (to) Canada Revenue Agency She provides you with the following information: a) On June 20X9 she sold a vacant land for 201,279 she received 20,128 down payment and the remaining balance will be paid in 5 annual instalments. The cost for the land was101,279 She paid selling and legal expenses amount of 7,000
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