User Account

All Pages

What amount will you pay tax when you withdraw the funds

Assignment Help Accounting Basics
Reference no: EM133040355

Question - If you contributed $50,000 over many years to your RRSP and it has a value today of $397,000, on what amount will you pay tax when you withdraw the funds during your retirement years?

1. There is no tax to be paid in retirement

2. Only on the $347,000 growth as it is withdrawn

3. On all $397,000 as it is withdrawn

4. Only on the initial $50,000 for which you received the deduction

Reference no: EM133040355

Questions Cloud

Develop a range of market cap rates : Develop a range of market cap rates through market extraction using the following data.
What are the taxes paid or refunded each year : The carry-back must occur before carry-forward. A corporation breaks even in year 1, earns $30,000 in year 2, What are the taxes paid or refunded each year
Case-the mattel toy company : The Mattel Toy Company is a $5 Billion American multinational toy manufacturing company. Toys 'r Us is one of its largest customers. It has already begun prepar
What is strategic management : What is strategic management, and why is it important to recognize its significance in today's business environment?
What amount will you pay tax when you withdraw the funds : If you contributed $50,000 over many years to your RRSP and it has a value today of $397,000, on what amount will you pay tax when you withdraw the funds
Propose a coordinated plan to use existing resources : The Commissioner of Health in a large, mostly Urban County has secured your services as a consultant to identify strategies to meet the needs of the growing Ref
Cultural differences leadership-management : Select a peer-reviewed article that focuses on the cultural differences leadership/management will need to handle in a global business.
What is total stockholders equity after this transaction : Assume that Water Front sells 1,300 shares of treasury stock at $43 per share. What is total stockholders' equity after this transaction
Swot analysis of the proposed event : The CEO of "Zoolandia Resorts" has asked you to make arrangements for a formal staff awards banquet. The company has 50 employees and because there is no cost t

Reviews

Write a Review

Accounting Basics Questions & Answers

  A company has a process that results in 15000 pounds of

a company has a process that results in 15000 pounds of product x that can be sold for 8 per pound. an alternative

  What changes would expect to see in the expenditure cycle

What are the implications of this strategy change in terms of the usefulness of historic sales data for decision making related to demand predictions?

  Find how often the interest is compounded

Question - Mandarin Bank advertises 9.5% account that yields 9.84% annually. Find how often the interest is compounded

  Which level of assurance requires more work

Briefly explain the difference between limited assurance and reasonable assurance. Which level of assurance requires more work

  Explain failure to appropriately include the factor

You must also explain whether failure to appropriately include the factor in the calculation would result in overstating or understating the net present value of the project.

  Calculate the net present value of the piece of equipment

The income tax rate is 30% and the discount rate is 14%. Calculate the net present value of the piece of equipment

  Company n has a 5-year note payable that will mature on

company n has a 5-year note payable that will mature on march 17 2012. company n has an agreement with a local bank to

  Sharing income in the ratio

Tomas and Saturn are partners who share income in the ratio of 3:1. Their capital balances are $80,000 and $120,000 respectively. Income Summary has a credit balance of $30,000. What is Tomas' capital balance after closing Income Summary to Capita..

  What is the expected cash collections in march

What is the expected cash collections in March? Big Jim Outerwear had the following sales January February $200,000 March $210,000

  What the ending balance in gondorff capital account is

Gondorff withdraws $10,500. After the partnership's books are closed for the year, the ending balance in Gondorff's capital account is

  What is the rate of return on common stock equity

Common stockholders' equity, 12/31/17 1008000. What is the rate of return on common stock equity for Crane Company for the year ended 2018

  The objective of a compliance audit is to determine

The objective of a compliance audit is to determine whether

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd