Question 1

Deductions are amounts that a taxpayer is allowed to deduct from taxable income.

Accepted Answer

A) True 
 B)False

Question 2

One of the legitimate methods to reduce one's taxes is tax evasion

Accepted Answer

A) True 
 B)False

Question 3

About one-third of each dollar you earn goes towards income taxes

Accepted Answer

A) True 
 B)False

Question 4

If you are a self-employed individual, you do have to make both employee and employer contributions to the CPP or QPP.

Accepted Answer

A) True 
 B)False

Question 5

Making use of legitimate methods to reduce one's taxes is called tax ____________.

Accepted Answer

A)  evasion 
B)  planning 
C)  exemptions 
D)  deferred techniques 
E)  reductions 
A)  evasion 
B)  planning 
C)  exemptions 
D)  deferred techniques 
E)  reductions

Question 6

Money received by an individual for personal effort is ____________ income.

Accepted Answer

A)  earned or employment investment 
B)  investment 
C)  portfolio 
D)  excluded 
E)  capital gains 
A)  earned or employment investment 
B)  investment 
C)  portfolio 
D)  excluded 
E)  capital gains

Deductions are amounts that a taxpayer is allowed to deduct from taxable income.

One of the legitimate methods to reduce one's taxes is tax evasion

About one-third of each dollar you earn goes towards income taxes

If you are a self-employed individual, you do have to make both employee and employer contributions to the CPP or QPP.

Making use of legitimate methods to reduce one's taxes is called tax ____________.

Money received by an individual for personal effort is ____________ income.

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

The Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source Credit: the Costs of Credit Alternatives

The Finances of Housing

Home and Automobile Insurance

Life, Health, and Disability Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Retirement Planning

Estate Planning

Filters

Exam 3: Planning Your Tax Strategy

Deductions are amounts that a taxpayer is allowed to deduct from taxable income.

One of the legitimate methods to reduce one's taxes is tax evasion

About one-third of each dollar you earn goes towards income taxes

If you are a self-employed individual, you do have to make both employee and employer contributions to the CPP or QPP.

Making use of legitimate methods to reduce one's taxes is called tax ____________.

Money received by an individual for personal effort is ____________ income.

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

The Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source Credit: the Costs of Credit Alternatives

The Finances of Housing

Home and Automobile Insurance

Life, Health, and Disability Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Retirement Planning

Estate Planning

Filters