[Verse 1] When you clock in every morning, punch that card and earn your pay Salary or hourly wages, tax man wants his share today Section five begins the journey, employment income's the theme Regular pay and overtime, it's all part of the scheme [Chorus] Five through eight, don't be late Employment income, calculate Salary, wages, benefits too Taxable amounts are coming through Five through eight, memorize Every dollar that you prize From your job becomes the base For the tax that you must face [Verse 2] Section six brings complications, benefits beyond your wage Company car and housing help, bonuses at every stage Taxable benefits are income, even if you don't see cash Stock options, club memberships, add them to your taxable stash [Chorus] Five through eight, don't be late Employment income, calculate Salary, wages, benefits too Taxable amounts are coming through Five through eight, memorize Every dollar that you prize From your job becomes the base For the tax that you must face [Bridge] Seven shows us the exceptions, what we can deduct and save Uniforms and union dues, professional fees that pave The way to lower taxable income, but the rules are pretty tight Eight wraps up the calculations, make sure everything's done right [Verse 3] T4 slips tell the story, box by box the numbers flow Employment income summarized, everything you need to know From gross pay to source deductions, CPP and EI Add it up and get it right, no detail you can deny [Final Chorus] Five through eight, now you're great Employment income, you calculate Salary, wages, benefits too Taxable amounts are nothing new Five through eight, you've got this straight Every dollar that you make From your job becomes the base For the tax that's commonplace [Outro] Employment income basics, foundation that you need Sections five through eight will help your CPA dreams succeed
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