14 Employers can deduct unpaid remuneration for tax purposes Multiple Choice if paid within 60 days of the taxation year if paid within 180 days of the taxation year if paid within 365 days of the taxation year if paid within two years of the taxation year 15 Certain skills are necessary for successful tax planning One of these skills is applying the time value of money Which of the following is FALSE regarding this skill Multiple Choice If Lou invests $1,000 for one year at a rate of return of 14 and is subject to a 45 tax rate, Lou's after tax value of the interest will be $77 If Randy earns an annual return of 12 and is subject to a 40 tax rate, Randy's annual after tax rate of return is 4 8 Applying the time value of money is a tool used for wealth accumulation If Cindy invests $1,000 at 8 and subsequently earns $48 in after tax income on the investment at the end of the first year, Cindy's tax rate is 40 29 D Inc is a Canadian corporation, incorporated in Ontario four years ago Ds only business is located in Argentina D is a resident in Canada throughout the current year Is this statement true or false

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 27, 2024

14- Employers can deduct unpaid remuneration for tax purposes Multiple Choice if paid within 60 days of the taxation year. if paid within 180 days

14- Employers can deduct unpaid remuneration for tax purposes

Multiple Choice

if paid within 60 days of the taxation year.
if paid within 180 days of the taxation year.
if paid within 365 days of the taxation year.
if paid within two years of the taxation year.

15- Certain skills are necessary for successful tax planning. One of these skills is applying the time value of money. Which of the following is FALSE regarding this skill?

Multiple Choice

If Lou invests $1,000 for one year at a rate of return of 14% and is subject to a 45% tax rate, Lou's after-tax value of the interest will be $77.
If Randy earns an annual return of 12% and is subject to a 40% tax rate, Randy's annual after-tax rate of return is 4.8%.
Applying the time value of money is a tool used for wealth accumulation.
If Cindy invests $1,000 at 8% and subsequently earns $48 in after-tax income on the investment at the end of the first year, Cindy's tax rate is 40%.

29- D Inc. is a Canadian corporation, incorporated in Ontario four years ago. Ds only business is located in Argentina. D is a resident in Canada throughout the current year. Is this statement true or false?