Glowcity just opened its business in 2020 and it is a small business. Sara, the owner of the business manages the business herself and receives salary. Sara was able to provide service and generate revenue of $250,000 for the first year. Also, it incurred operating expenses including
								The business is operating in BC, Canada. The provincial corporate rate is 2% for CCPC and the federal income rate is 9% under $500,000
Salaries			100,000
Rent			65,000
Utilities			2,000
Marketing expense			25,000
Telecommunications			15,000	(25% of her phone use is personal)
Meals& Entertaninment			2,500	(50% of redeem as buiness expense according to CRA)
Motor Vehicle			20,000	(25% of usage is personal)
What is the Company's taxable income ?

Answer rating: 100% (QA)

Total Revenue 250000 Less Salaries 100000 L... View the full answer