Question: DDD Ltd . is a private corporation with a calendar - based taxation year ending on December 3 1 . The sole shareholder is Donald

DDD Ltd. is a private corporation with a calendar-based taxation year ending on December 31. The sole shareholder is Donald Darwin Dorsey who is a Canadian resident throughout 2024. DDD has never been associated with another corporation or experienced a short taxation year. In 2024, DDD Ltd. had the following: Canadian Active Business Income $145,500 Net Income183,700 Taxable Income 157,800 What is the maximum SBD for DDD Ltd. for 2024 assuming that there are no TCEC or AAII grinds to the small business limit? $29,982 $27,645 $34,903 Nil

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

DDD Ltd. is a private corporation with a taxation year ending on December 31. The sole shareholder is Donald Darwin Dorsey who is a Canadian resident throughout 2023. In 2023, DDD Ltd. had the...

Q:

DDD Ltd . is a private corporation with a taxation year ending on December 3 1 . The sole shareholder is Donald Darwin Dorsey who is a Canadian resident throughout 2 0 2 3 . In 2 0 2 3 , DDD Ltd ....

Q:

DDD Ltd. is a private corporation with a fiscal year ending on December 31. It is solely owned by Donald Darwin Dorsey who is a Canadian resident throughout 2020. During 2020, DDD Ltd. had the...

Q:

Green Thumb Ltd. (GT Ltd.) is a Canadian-controlled private corporation operating a franchise gardening and plant nursery retail store in Kamloops, BC. Bob Green, is the company's sole shareholder...

Q:

Green Thumb Ltd. (GT Ltd.) is a Canadian-controlled private corporation operating a franchise gardening and plant nursery retail store in Kamloops, BC. Bob Green, is the company's sole shareholder...

Q:

Iax Software Assignment Problem - Chapter 14 Tax Software AP 14-1 RadionFaux Industries Ltd. (RIL) is a Canadian controlled private corporation (CCPC) situated at 123 ABC Street in Ottawa, Ontario,...

Q:

ax Software Assignment Problem - Chapter 14 Tax Software AP 14-1 RadionFaux Industries Ltd. (RIL) is a Canadian controlled private corporation (CCPC) situated at 123 ABC Street in Ottawa, Ontario,...

Q:

Green Thumb Ltd. (GT Ltd.) is a Canadian-controlled private corporation operating a franchise gardening and plant nursery retail store in Kamloops, BC. Bob Green, is the company's sole shareholder...

Q:

AP 6-9 (Corporate Business Income with CCA) Angie's Amazing Getups Incorporated is a Canadian controlled private corporation (CCPC) with a head office in London, Ontario. The company is a...

Q:

DDD Lid is as private corporation wath a taxation year ending on Decomber 31 . The sole shareholder is Donald Darwin Dorsey who is a Canadian resident throughout 2023 in 2023 , DOP thd had the...

Q:

Find the center of mass of a uniformly solid cone of base diameter 2a and height h.

Q:

Find the present value of the following ordinary annuities (see the Notes to Problem 4-12). a. $400 per year for 10 years at 10% b. $200 per year for 5 years at 5% c. $400 per year for 5 years at 0%...

Q:

Suppose interest rates have been historically low for the past 8 years but rates are expected to begie to increase over the coming couple of years. Given the interest rate environment, which type of...

Q:

Pharoah Company reported the following amounts for 2022: Raw materials purchased $95,200 Beginning raw materials inventory 5,824 Ending raw materials inventory 5,040 Beginning finished goods...