MASER C. ano ax Payable for Individuals Assignment Problems 223 Sample Tax Return aitvare Self-Study Problem Chapter 4 Sample Tax Return and Tax Software SSP is available in the Study Guide Self-Study Problems (SSPs) Study Problems (SSPs) provide practice in problem solving. Within the chapters, we have where it would be appropriate to stop and work on each SSP The problems can be by chapter from MyLab Accounting Solutions are available in the Study Guide of problems can also be completed directly in MyLab and auto-graded Assignment Problems Solutions to Assignment Problems IAPs) are available to instructors only AP 4-1 (Personal Tax Credits-Five Cases) inch of the following independent cases, determine the maximum amount of 2021 personal tax credits, including transfers from a spouse or dependant, that can be applied against federal income tax payable by the individuals. In all cases, the individual's net income is equal Unless otherwise stated, assume that each individual is less than 65 years old to his or her taxable income. Ignore, where relevant, the possibility of pension income splitting A calculation of tax payable is NOT required, only the applicable income tax credit base and the credit amount applied against federal income tax payable 1 Cammy Tarbell has net income of $96,500, all of which is employment income. Her employer Cos withheld maximum El and CPP contributions. She is married to Bob Tarbell , who has net ncome of $8.650. They have four children ages 3.5.7 and 9. All of the children are in good health and none of them have any income during the current year, Scotty Severa has been divorced for a number of years. Because his former wife is an airline pilot who travels extensively, he has been awarded custody of their three children The children are aged 7, 10, and 15 and they are all in good health Scotty's net income $71,400, all of which is spousal support payments. The two younger children have no income of their own. The 15 year old has income from part-time jobs of $8,640 3 Donald Preble has net income of $126,325, all of which is rental income. His spouse, Donna, has net income of $6,340.Their daughter, Diane, is 26 years old and has a mental disability, While the disability is not severe enough to qualify for the disability tax credit, she has no income during the current year and continues to live with Donald and Donna 4. Bibi Spillman is 68 years old. Her net income totals $65,420 and is made up of OAS payments of $7400 and pension income of $58,020 from a former employer. Her spouse is 62 years old and has net income of $6,250. $ Clarice McBryde has net income of $132,400, all of which is employment income with the exception of a deduction for CPP of $290. Her employer has withheld the maximum El and CPP contributions. She and her husband, Moishe, have two children aged 11 and 13. Moishe and the children have no income of their own during the current year The 13-year-old child was severely injured in a car accident two years ago and qualifies for the disability tax credit. No amount was paid for attendant care for this child during the current year. Clarice spent $12,500 installing wheelchair ramps to improve access to various parts of the family residence. She also spent the following on dental fees and fees for various medical practitioners: 118 $ 4,420 2,620 1.875 14,250 $23,165 224 Chapter 4 Assignment Problems Clarice Moishe 11-year-old child 13-year-old child Total medical fees paid ( 11,000) $12,165 Reimbursement from company medical plan -Plan's annual maximum Net medical fees paid llowing five independent cases make varying assume Norris' marital status and number of depen which is employment incr yable-Five Cases) MASER C. ano ax Payable for Individuals Assignment Problems 223 Sample Tax Return aitvare Self-Study Problem Chapter 4 Sample Tax Return and Tax Software SSP is available in the Study Guide Self-Study Problems (SSPs) Study Problems (SSPs) provide practice in problem solving. Within the chapters, we have where it would be appropriate to stop and work on each SSP The problems can be by chapter from MyLab Accounting Solutions are available in the Study Guide of problems can also be completed directly in MyLab and auto-graded Assignment Problems Solutions to Assignment Problems IAPs) are available to instructors only AP 4-1 (Personal Tax Credits-Five Cases) inch of the following independent cases, determine the maximum amount of 2021 personal tax credits, including transfers from a spouse or dependant, that can be applied against federal income tax payable by the individuals. In all cases, the individual's net income is equal Unless otherwise stated, assume that each individual is less than 65 years old to his or her taxable income. Ignore, where relevant, the possibility of pension income splitting A calculation of tax payable is NOT required, only the applicable income tax credit base and the credit amount applied against federal income tax payable 1 Cammy Tarbell has net income of $96,500, all of which is employment income. Her employer Cos withheld maximum El and CPP contributions. She is married to Bob Tarbell , who has net ncome of $8.650. They have four children ages 3.5.7 and 9. All of the children are in good health and none of them have any income during the current year, Scotty Severa has been divorced for a number of years. Because his former wife is an airline pilot who travels extensively, he has been awarded custody of their three children The children are aged 7, 10, and 15 and they are all in good health Scotty's net income $71,400, all of which is spousal support payments. The two younger children have no income of their own. The 15 year old has income from part-time jobs of $8,640 3 Donald Preble has net income of $126,325, all of which is rental income. His spouse, Donna, has net income of $6,340.Their daughter, Diane, is 26 years old and has a mental disability, While the disability is not severe enough to qualify for the disability tax credit, she has no income during the current year and continues to live with Donald and Donna 4. Bibi Spillman is 68 years old. Her net income totals $65,420 and is made up of OAS payments of $7400 and pension income of $58,020 from a former employer. Her spouse is 62 years old and has net income of $6,250. $ Clarice McBryde has net income of $132,400, all of which is employment income with the exception of a deduction for CPP of $290. Her employer has withheld the maximum El and CPP contributions. She and her husband, Moishe, have two children aged 11 and 13. Moishe and the children have no income of their own during the current year The 13-year-old child was severely injured in a car accident two years ago and qualifies for the disability tax credit. No amount was paid for attendant care for this child during the current year. Clarice spent $12,500 installing wheelchair ramps to improve access to various parts of the family residence. She also spent the following on dental fees and fees for various medical practitioners: 118 $ 4,420 2,620 1.875 14,250 $23,165 224 Chapter 4 Assignment Problems Clarice Moishe 11-year-old child 13-year-old child Total medical fees paid ( 11,000) $12,165 Reimbursement from company medical plan -Plan's annual maximum Net medical fees paid llowing five independent cases make varying assume Norris' marital status and number of depen which is employment incr yable-Five Cases)