Old MathJax webview

Question #1:

I would like you to sell five of your stocks which you purchased back in January. Please mark down your purchase day and time along with your selling day and time. Calculate the total gain or loss and comment on the Income Tax implications of that loss or gain.

Question #2:

Pretend you are an executive with a company and you were given 3000 stock options at $40.00 a share on Feb 23rd 2021. You are thinking of cashing in these options today because the share price is $45.55 but you know the company well and rumour has it the stock will be at $55.00 a share by September of this year. First part of the question is would you cash in the stock option now or would you wait until September (explain why) ?? and, the second part of the question is calculate the taxable portion if you did it now or if you waited and did it in September.

Question #3:

Calculate the interest deduction on an income tax return plus the required down payment using a 1st 2nd and 3rd mortgage on an investment property for the following amounts: $785,000, $925,000.00, $1,380,000.00, $1,600,000.00, $2,400,000.00

Note: 3rd mortgage interest is 11%

Question #4:

Please explain what a Net Worth Audit is, how it works, and why the Canada Revenue Agency CRA would do one?

Question #5:

List ten Pros and/or Cons or a combination of both as it relates to being Self-Employed compared to working for someone else.

Only need question #1 , #2 , #3