1 answer

2019 Tax Bill

Please compute the total tax due (April 30th, 2020) for the following single (non-senior, nonmarried) resident of Ontario. During the 2019 tax year, they earned $160,000 in (gross) T4 employment income. From this sum, $40,000 was deducted by their employer (for provincial and federal taxes) at source and remitted to the Canada Revenue Agency, which may or may not be enough to cover their tax bill. They also paid the full Canadian Pension Plan (CPP) premiums and Employment Insurance (EI) premiums for 2019. They contributed $10,000 to an RRSP and plans to utilize the entire deduction. In addition, they received $3,500 in interest income from a Canadian bank and $350 in dividends from her stockholdings (which involved only Canadian companies). Lastly, they provided 4.5 hours of volunteer service to their local fire department each Sunday and made $6,500 in charitable contributions during the 2019 tax year.

Part A: How much does the individual owe in total (Federal and Provincial and surtax) income tax for the year? (This amount would be due on April 30th, 2020.) Make sure to use the proper Ontario and Federal tax rates for 2019. Make assumptions if necessary but do not assume away any valid deductions or credits. Use the 2019 tax rates and carefully show all your work, including (i.) Federal Tax, (ii.) Ontario basic Tax, and (iii.) Ontario Surtax.

Part B: What is the marginal tax rate? Average tax rate? Explain the difference between the two rates.

1 answer
#####
Lacy's department store is thinking of having a major sale in the month of February, but does not know if its competitor store Hillstrom's is also planning one. From historical data, Lacy'...

Lacy's department store is thinking of having a major sale in the month of February, but does not know if its competitor store Hillstrom's is also planning one. From historical data, Lacy's knows the following: If Lacy's offers a sale and Hillstrom's does not, Lacy's sales n...

1 answer
#####
The accompanying data table describes results from groups of 10 births from 10 different sets of...

The accompanying data table describes results from groups of 10 births from 10 different sets of parents. The random variable x represents the number of girls among 10 children. Complete the questions below. x P(x) 0 0.003 1 0.018 2 0.041 3 ...

1 answer
#####
Chronic Disease Identify the possible actual and potential health issues of a client suffering with long...

Chronic Disease Identify the possible actual and potential health issues of a client suffering with long term dementia. List at least 3 (three) health issues and related impact as per the given example. Possible health issues Impact on client's ability to perform activities of daily ...

1 answer
#####
PLEASE SHOW ME HOW TO FACTOR THIS PLEASE AND THANK YOU! 128. 3(20 – 1°(2)(x +...

PLEASE SHOW ME HOW TO FACTOR THIS PLEASE AND THANK YOU! 128. 3(20 – 1°(2)(x + 3)/2 + (2x – 1)* ( 1 ) (x + 3)-1/2...

1 answer
#####
Explain two ways a government can invest in economic growth (in other words, ways a government can influence or stimulate economic growth). Please be specific. Then, comment on whether your factors fa...

Explain two ways a government can invest in economic growth (in other words, ways a government can influence or stimulate economic growth). Please be specific. Then, comment on whether your factors fall under the category of physical capital, technological advancement, human capital, or other....

1 answer
#####
Predetermined Overhead Rate, Overhead Variances, Journal Entries Craig Company uses a predetermined overhead rate to assign...

Predetermined Overhead Rate, Overhead Variances, Journal Entries Craig Company uses a predetermined overhead rate to assign overhead to jobs. Because Craig's production is machine intensive, overhead is applied on the basis of machine hours. The expected overhead for the year was $5,096,000, and...

1 answer
#####
Water drops over #49# m high Niagara Falls at the rate of #6.0 * 10^6# kg/s. If all the energy of the falling water could be harnessed by a hydroelectric power plant, what would be the plant's power output?

Water drops over #49# m high Niagara Falls at the rate of #6.0 * 10^6# kg/s. If all the energy of the falling water could be harnessed by a hydroelectric power plant, what would be the plant's power output?...

1 answer
#####
Offshoring and ousourcing: the good the bad and the reality. Come up with your own argument...

offshoring and ousourcing: the good the bad and the reality. Come up with your own argument for and against...

1 answer
#####
1. A postoperative client's temperature is 95.9°F (35.5°C). What additional assessment findings should the nurse ant...

1. A postoperative client's temperature is 95.9°F (35.5°C). What additional assessment findings should the nurse anticipate? Select all that apply. 1. Cool fingers and toes. 2. Capillary refill < 3 seconds. 3. Diaphoresis. 4. Perioral cyanosis. 5. Goosebumps....

1 answer
#####
7. Consider an experiment whose sample space consists of all positive integer (a.k.a. natural) numbers Z+...

7. Consider an experiment whose sample space consists of all positive integer (a.k.a. natural) numbers Z+ 1,2,3, ...J (i.e. choose a random natural number) a) Can you define a probability on Z+? (b) Can you define a probability on Z+ in such a way that any two numbers are equally likely to occur? (c...

1 answer
#####
Ages) 178-183.2.Wat does GDP tell us about the economy? Match the use of GDP data to...

ages) 178-183.2.Wat does GDP tell us about the economy? Match the use of GDP data to the appropriate situation. Drog each item on the left to its matching item on the right. Leia examines real per capita GDP over a ten-year period to determine whether the decline or on the rise. measuring long-term ...

1 answer
#####
Constants Part A bicycle with tires 64 cm in diameter travels 2.1 knm How many revolutions...

Constants Part A bicycle with tires 64 cm in diameter travels 2.1 knm How many revolutions do the wheels make? Express your answer using two significant figures. N 318309.93 revolutio Previous Answers Request Answer Submit x icorrect; Thy Again; 3 attempts remaining Provide Feedback O Type here to s...

1 answer
#####
1. (10 pts) Determine whether the given series converges or diverges. Be sure to justify your...

1. (10 pts) Determine whether the given series converges or diverges. Be sure to justify your answer. (similar to 10.6 #18) Ex=2(-1)" n2...

1 answer
#####
Need help solving these questions We are evaluating a project that costs $837,790, has an eight-year...

Need help solving these questions We are evaluating a project that costs $837,790, has an eight-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 62,239 units per year. Price per unit is $36, variable cost p...

1 answer
#####
A. List five, features and functions of an Anti-virus as a Non- SaaS option. B. Identify risks associated...

A. List five, features and functions of an Anti-virus as a Non- SaaS option. B. Identify risks associated with using it in an enterprise organization C. Provide any capital costs and any on-going operational costs for the hardware/software associated with Implementing an Anti-V...