which of the following could be required to file a gst return? a. Chan's clothing store (an unincorporated business) b. The Chan foundation (a registered charity) c. Min Chan (an individual) d. All of the above
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which of the following could be required to file a gst return? a. Chan's clothing store (an unincorporated business) b. The Chan foundation (a registered charity) c. Min Chan (an individual) d. All of the above
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- If a CFP® professional engaging in financial planning represents his compensation method as fee-only, then which of the following is an acceptable form of compensation for him? A) Fees collected on the management of a client's investment assets VOC CA 103000 Ane Mon som mempun B) A commission earned on the sale of a variable annuity D de pe imp hun 2001 que 200 OC) A commission earned on the sale of a term life policy O D) A commission earned on the sale of a whole life policyThe following relates to different types of registered plans: Registered Retirement Income Fund Tax-Free Savings Account Registered Education Savings Plan Registered Retirement Savings Plan What plan permits the amount contributed to be deducted from the individual's total income in the year contribution is made or carry forward if unused? Question 2 options: a) i, ii and iii b) ii, iii and iv c) iv only d) None of the abovewhich of the following deductions or withholding ranges are indexed Seriously get down now go upstairs defy white heart and adjusted based upon changes in the consumer price index? a. SEP IRA contributions b. standard deduction c. maximum social security witholding levels d. all of the above
- In case of life insurance policies with profits, policy holders are given the right to participate in the profits of the business and for this purpose insurance company will pay: a. Claims to policy holders b. Bonus to policy holders c. Consideration to policy holders d. Annuity to policy holdersWhich one(s) is/are true for RRSP? (There might be more than one answer). Question 1 options: The Home Buyers' Plan (HBP) is a tax-free withdrawal from an RRSP account for persons who are deemed to be first-time home buyers. An eligible person is permitted to take an withdraw up to $35,000.00 from their RRSPs to purchase or construct a home for themselves. The LLP student must be enrolled on a full-time basis at the educational institution. Students can not be enrolled on a part-time basis under any conditions. Any contribution made to an RRSP within 89 days prior to the HBP request does not qualify to be part of the HBP program. Up to $5000 net per year, over four years, up to a maximum of $20,000 net, can be redeemed per spouse for purposes of the LLP.Which of the following accounts has special tax advantages under certain conditions when used to fund qualified college education expenses? Group of answer choices certificate of deposit money market mutual fund U.S. Treasury bill US EE savings bonds
- Which of the following must appear in a public document? a. Donations of immovable property b. Donations of personal property c. Agreements regarding payment of interest in contract of loan d. Chattle mortgagePlease answer with reason for all why the option is correct and why the other options are incorrect Which of the following would be NOT be classified as a deduction FROM adjusted gross income. a State Income Tax b . Property tax on residence . c Contribution to a qualified self-employed retirement plan d . Interest paid on a home -equity loanFor an individual investor, investment in which one of the following accounts has the best liquidity? a. Group of answer choices b. regular taxable investment account c. 401 (k) d. RA e. Roth IRA
- Which of the following transactions qualify as like-kind exchanges? You must support your answer for each item below. a) Bonds exchanged for an office building b) A factory for an office building c) Undeveloped land for an office buildingWhich of the following expenses is deductible from gross income?* a. Contribution to a newspaper fund for needy families when such newspaper organizes a drive solely for charitable purposes. b. Premiums paid by the self-employer for the life insurance of his employees c. Contribution to the construction of a chapel of a university that declares dividends to its stockholders d. Donation of prizes and awards to athletes in local and international competitions and sanctioned by their respective sport associations.How does scholarships received & gifts and inheritances work in taxation? Also, what is section 529 plans? Lastly, what is life insurance proceeds in accounting?
