Mr. Johnson Ferrarmo is a supervisor at Retail Box Co. He received the following T4 slip:...
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Mr. Johnson Ferrarmo is a supervisor at Retail Box Co. He received the following T4 slip: [T4] Employer's name Year Retail Box Co. 2022 Employment income [14] Employee's CPP contribution [16] Employee's El premiums [18] His personal information are as follows: [INFO] Marital Status: Single Address: 941 Progress Avenue, Toronto, ON, M1G 3T8 Phone Number: 416-289-5000 Date of Birth: October 14, 1976 75,000.00 3,499.80 952.74 Social insurance number Income tax deducted [22] El insurable earnings [24] CPP pensionable earnings [26] 527 000 145 12,800.00 60,300.00 64,900.00 For the past 20 years, Johnson has been renting an apartment. He finally saved up enough money and purchased a condo at 941 Progress Avenue in April 2022. Johnson is very excited to have owned his first home. [OTHER CREDIT] Johnson made the following charitable donations: [DONATION] Habitat for Humanity on April 17, 2022 Red Cross on November 9, 2022 $500 $750 In order to improve his career skills, Johnson took some leadership courses at Centennial College that he studied part-time. The tuition fees for 2022 totalled $1,020 and were for 4 months. [T2202] Johnson made a political contribution of $1,500 to a political party. [OTHER CREDIT] Johnson also has the following medical expenses: [MEDICAL] Dentist visits (June 15, 2022) Sauna sessions: Personal-use (May 8, 2022) Prescribed antibiotics (January 19, 2022) Eye examinations with optometrist (October 12, 2022) $220 Over-the-counter medication (August 1, 2022) $ 125 Doctor-prescribed sleep apnea machine (December 3, 2022) $2,000 Required: Prepare Mr. Johnson Ferrarmo's T1 personal tax return for 2022 with minimum taxes payable. Submission: Submit your assignment on eCentennial under "Assignments". Your submission should include: 1. The entire ProFile computer file (the file extension that ends.227), and 2. A PDF printout of the "Summary" page. $725 $ 450 $ 560 Mr. Johnson Ferrarmo is a supervisor at Retail Box Co. He received the following T4 slip: [T4] Employer's name Year Retail Box Co. 2022 Employment income [14] Employee's CPP contribution [16] Employee's El premiums [18] His personal information are as follows: [INFO] Marital Status: Single Address: 941 Progress Avenue, Toronto, ON, M1G 3T8 Phone Number: 416-289-5000 Date of Birth: October 14, 1976 75,000.00 3,499.80 952.74 Social insurance number Income tax deducted [22] El insurable earnings [24] CPP pensionable earnings [26] 527 000 145 12,800.00 60,300.00 64,900.00 For the past 20 years, Johnson has been renting an apartment. He finally saved up enough money and purchased a condo at 941 Progress Avenue in April 2022. Johnson is very excited to have owned his first home. [OTHER CREDIT] Johnson made the following charitable donations: [DONATION] Habitat for Humanity on April 17, 2022 Red Cross on November 9, 2022 $500 $750 In order to improve his career skills, Johnson took some leadership courses at Centennial College that he studied part-time. The tuition fees for 2022 totalled $1,020 and were for 4 months. [T2202] Johnson made a political contribution of $1,500 to a political party. [OTHER CREDIT] Johnson also has the following medical expenses: [MEDICAL] Dentist visits (June 15, 2022) Sauna sessions: Personal-use (May 8, 2022) Prescribed antibiotics (January 19, 2022) Eye examinations with optometrist (October 12, 2022) $220 Over-the-counter medication (August 1, 2022) $ 125 Doctor-prescribed sleep apnea machine (December 3, 2022) $2,000 Required: Prepare Mr. Johnson Ferrarmo's T1 personal tax return for 2022 with minimum taxes payable. Submission: Submit your assignment on eCentennial under "Assignments". Your submission should include: 1. The entire ProFile computer file (the file extension that ends.227), and 2. A PDF printout of the "Summary" page. $725 $ 450 $ 560
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To prepare Mr Johnson Ferrarmos T1 personal tax return for 2022 with minimum taxes payable we will follow these steps and calculate the relevant value... View the full answer
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Posted Date:
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