While reviewing notes from past meetings with a self-employed client in preparation for an upcoming meeting, you
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While reviewing notes from past meetings with a self-employed client in preparation for an upcoming meeting, you are reading a note form 2021 where CPP Benefits were discussed. Your notes indicate that your client was curious about the calculation that is used to arrive at CPP contributions. You see in your notes that the YMPE for 2020 was $58,700, and the contribution rate for 2020 was 5.25% The client's income for 2020 was $60,000. Upon further review of your notes, you realize that you didn't include the CPP contribution amount, that your client would have contributed for 2020.
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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