Determine Mr. Jonsson's employment income for the 2021 taxation year. Ignore all GST/HST and PST implications.
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Mr. Jonsson is a salesperson handling a line of computer software throughout Western Canada. During 2021, he is paid a salary of $25,500 and receives sales commissions of $47,300. He does not receive an allowance, nor is he reimbursed by his employer for any of his expenses. During the year, Mr. Jonsson made the following employment-related expenditures.
Airline Tickets
|
$2,390
|
---|---|
Office Supplies And Shipping Costs
|
385
|
Purchase Of Laptop Computer
|
2,095
|
Client Entertainment
|
1,780
|
Cost Of New Car
|
24,200
|
Operating Costs Of Car
|
6,600
|
Determine Mr. Jonsson's employment income for the 2021
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- This year Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $78,300 and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses as follows: Cost of moving his possessions to the city (125 miles away) Interest paid on accumulated student loans Cost of purchasing a delivery uniform Contribution to State University deliveryman program $1,200 3,000 1,600 1,400 Calculate Evan's AGI and taxable income if he files single. Assume that interest payments were initially required on Evan's student loans this year. Evan's AGI Taxable incomeCPA Jetter is a self-employed accountant and is required to take a week of continuing accounting and ethics education every year to maintain his license. This year he paid $950 in course fees for his continuing accounting and ethics education in a different city. He also paid $450 for airfare and a hotel room and paid $356 for meals. He also took a realtor seminar which cost $325 during the stay. What is the total amount he can deduct on his Schedule C related to these expenses? Explain your answerBrittany, who is an employee, drove her automobile a total of 20,000 business miles in 2022. She drove 10,000 miles in the first half of the year and 10,000 miles in the second half of the year. This represents about 75% of the auto's use. She has receipts as follows: parking(business only) $500 tolls (business only) 200 Repairs $1000 Brittany's AGI for the year of $50,000, and her employer does not provide any reimbursement. She uses the standard mileage rate method. After application of any relevant floors or other limitations, Brittany can deduct A) $0. B) $12,000. C) $11,825. D) $13,000.
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