Question
Please help me to solve these questions. As per policy, experts can answer 4 questions so please answer all otherwise leave this post. When deciding
Please help me to solve these questions. As per policy, experts can answer 4 questions so please answer all otherwise leave this post.
When deciding whether to allocate funds to a TFSA account versus an RRSP account, which of the following is least critical?
Avoiding taxation on the investment funds | ||
The financial goals of the individual | ||
The intended purpose for the investment funds | ||
The marginal tax bracket of the individual |
Fred's income this past year included salary of $70 000, $3000 interest income, a $4000 capital gain from selling some stock and a $5000 inheritance. For tax purposes, what is his total taxable income this year?
$77 000 | ||
$75 000 | ||
$82 000 | ||
$80 000 |
Which would reduce taxes the most for a person who earns $100,000 gross income?
$4800 medical expenses | ||
$4800 RRSP contribution | ||
$4800 interest on a student loan | ||
These would have the same effect.
|
f you bought shares of Amazon for $5,000 and sold them for $25,000 five years later, what additional taxable income would have once sold?
$10,000 taxable capital gain. | ||
$20,000 taxable capital gain. | ||
$25,000 taxable capital gain. | ||
$10,000 business income. |
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