Carol Basque is an experienced lawyer who has not incorporated her professional practice.She operates her practice out of a building which she…

Carol Basque is an experienced lawyer who has not incorporated her professional practice. She operates her practice out of a building which she purchased several years ago for $725,000. Of this total, it is estimated that $175,000 reflects the value of the land. It was a new building when she acquired it, her practice uses 100 percent of the building, and it was allocated to a separate Class 1. On January 1, 2018, the building has a UCC of $447,831.
On January 1, 2018 her class 8 UCC is $38,160. Carol leases a 2017 Lexu RX for $914/mo. During 2018, the Lexus is driven 41,000 kilometers, only 3,000 of which were for personal use. The operating costs for the year were $6,150.
Other asset acquisitions during 2018 are as follows:
New Computer $1,250
Applications Software 1,475
Other 2018 costs of operating her business, determined on an accrual basis, are as follows:
Building Operating Costs $27,300
Payments To Assistants (Note 1) 46,100
Miscellaneous Office Costs 13,600
Meals With Clients 15,500
Note 1: The payments include $25,000 paid to her 17 year old daughter. She works part time during the school year and full time during the summer doing online research for Carol’s practice.
During 2018, the revenues of Carol’s practice total $297,800.
Calculate the minimum net business income Carol would include in her 2018 personal income tax return. In preparing your solution, ignore GST and PST implications and her CPP liability.

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Enjoy 10% OFF today with the coupon code: best10