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Patrick and Susan just recently graduated from the business program at York U. and got married. They both now have full time jobs and would like to purchase a house within the next few years. Neither Patrick nor Susan have ever owned a house before.
They would like to know if they should contribute to their Registered Retirement Savings Accounts (RRSPs') or open and contribute to a Tax Free Savings Accounts (TFSA's). They only have $3,000 each to contribute and so they assume that they should contribute to their RRSP or TFSA, but not both.
Explain four differences between RRSP accounts and TFSAs.
What advice would give these clients about their RRSP/TFSA?
During the taxable year, the feed for the cattle cost $1,500. The income from the sale of cattle was $1,400. (a) Under the hobby loss rule, to what extent is the expense of $1,500 deductible? (b) Under the two-percent-of-adjusted-gross-income limitat..
Find out the value at the end of four years of $10,000 investment (today) in a bank certificate of deposit (CD) that pays a nominal annual interest rate of 12 percent, compounded.
What assumptions are made in such computations?
Describe and explain the mechanisms, dynamics and situational and social context of the criminal justice system in the United States, including the law, police, courts and corrections.
Specify several advantages of operating a small business when it comes to General and Administrative (G&A) expenses. Determine the single most important advantage that you believe would benefit the small-business owner the most. Explain your answe..
A variety of proposals are being considered by management to redirect the firm's activities.
1.Jacqueline Strauss, a 25-year-old personal loan officer at Second National Bank, understands the importance of starting early when it comes to saving for retirement. She has committed $3,000 per year for her retirement fund and assumes that she'll ..
Following is not true regarding investing in stocks?
To purchase 2 boilers and a 2 Mega Watts turbine, your company is considering a 10- year loan of $3,000,000 with a nominal interest rate of 12%.
'Moby Dick Corporation has sales of $4,216,040; income tax of $588,149; the selling, general and administrative expenses of $274,448; depreciation.
If the discount rate is stated in nominal terms, then in order to calculate the NPV in a consistent manner requires that project: I) cash flows be estimated in nominal terms II) cash flows be estimated in real terms III) accounting income be used
How would a cash budget relate to the Breakeven analysis. What would a banker or investor look for in these documents.
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