Ask Question
BusinessBusiness
9 March, 11:14

John wanted to know how much he would pay this year in federal income taxes. which form would he use to determine this amount?

+3
Answers (1)
  1. 9 March, 13:05
    0
    In Canada it is the Schedule 1 Federal tax which includes the non-refundable tax deduction for such things as disability tax allowance, medical expenses and other expenses and then a percentage of the total of these deductions is used as the deduction. Then on the second page the the federal tax rate is used to calculate the tax payable from which the above deduction is subtracted to get the net payable in Federal tax.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “John wanted to know how much he would pay this year in federal income taxes. which form would he use to determine this amount? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Suppose you sell a fixed asset for $99,000 when its book value is $129,000. If your company's marginal tax rate is 39 percent, what will be the effect on cash flows of this sale (i. e., what will be the after-tax cash flow of this sale)
Answers (1)
Let d1 represent the demand curve for premium seats to the broadway hit hamilton, and let s1 represent the supply curve for these seats. if the producers of the show charge $497.
Answers (1)
The subcontracting or contracting out of activities to external organizations that had previously been performed by the firm is called: A) Offshoring B) Insourcing C) Outsourcing D) Homesourcing
Answers (1)
Assume a firm has earnings before depreciation and taxes of $630,000 and depreciation of $330,000. a. If it is in a 40 percent tax bracket, compute its cash flow.
Answers (1)
Earlier this week, two workers accidentally stepped off the edge floor where they were working. Because there was no guarding, they both fell three stories. One is seriously injured, the other died at the sense. Is it Inspection or No inspection
Answers (1)
New Questions in Business
Buying inventory in large lots to take advantage of quantity discounts can be responsible for a high inventory turnover ratio. True/False
Answers (1)
The internal rate of return is the: Select one: a. Discount rate that results in a zero net present value for the project. b. Rate of return required by the project's investors. c. Project's current market rate of return. d. None of these choices. e.
Answers (1)
Portable Pet Care, Inc., a mobile veterinary clinic, is planning for the future. The company owners (two seasoned veterinarians) have brought together the vice president of marketing and the director of information systems to talk about their
Answers (1)
Ocean Breeze Co. paid $500 cash for expenses related to advertising for the period. Which of the following shows how this event will affect the company's accounting equation?
Answers (1)
When a change in interest rates impacts the international value of the dollar limiting the effectiveness of fiscal policy, it is due to a. crowding out. b. crowding in. c. the slope of the AS curve. d. the net export effect. e. exogenous shocks.
Answers (1)
Home » Business » John wanted to know how much he would pay this year in federal income taxes. which form would he use to determine this amount?
Sign Up Forgot Password?