Question: Ms Isabelle Cardin had a tumultuous year in 2013. She broke her engagement early in the year and quit her job. She moved to


Ms Isabelle Cardin had a tumultuous year in 2013. She broke her engagement early in the year and quit her job. She moved to a resort area to take a waitre; job and to start up a fitness instruction business. She has had the following iterns eorreetly calculated and elassified as either inclusions, deductions or tax credits for the purposes or determining her taxable income and federal tax. Benefit received from Employment Insurance program Board and lodging provided by employer during busy season of resort Bonus from resort employer _ Business revenue from fitness instruction fees Gratuities as a waitress Interest on Canada Savings Bonds Rental Salary received as a waitress Taxable capital gain Retiring allowanee from previous employer _ Deductions, Losses, and 7x Creds: Allowable capital loss _ _ Capital eost allowanee on fitness business equipment . Capital eost allowanee on rental building Charitable gifts tax credit Child Canada Pension Plan contributions tax credits on employment earnings . Medical expenses tax credit . Business expenses of earning fitness instruction fees 600 8,000 12,100 6, oao 12,000 $ , 750 4500 1 ,goo 1 ,200 1 ,800
Step by Step Solution
There are 3 Steps involved in it
To determine Ms Isabelle Cardins taxable income and federal tax we will need to follow these steps S... View full answer
Get step-by-step solutions from verified subject matter experts
