Reference no: EM133496950

Question #1:
Sell any five of your stocks which you purchased during weeks one and two (do this question after 9:30 am when the stock market opens. Please calculate the total gain or loss and comment on the Income Tax implications.

Question #2:
You are an executive with a company and you were given 5000 stock options at $50.00 a share exercisable/cashable on May 25th, 2023. You are thinking of cashing in these options today because the share price is $65.00 but you know the company well, and rumour has it the stock will be at $80.00 a share by October 2023. First part of the question, would you cash in the stock option now or would you wait (explain why) and the second part of the question, calculate the taxable portion if you decided to sell it today.

Question #3:
Calculate the interest deduction on an income tax return plus the required down payment using a 1st 2nd and 3rd mortgage on each investment property costing the following amounts: $485,000, $925,000.00, $1,100,000.00, $1,600,000.00, $2,400,000.00 Note: 3rd mortgage interest is 20%

Question #4: Please explain what a Net Worth Audit is, how it works, and why Canada The Revenue Agency (CRA) would do one.

Question #5: List ten in total Pros and/or Cons or a combination of both as it relates to being Self-Employed compared to working for someone else. NOTE: They have to be different and not just opposites of each other