which of the following could be required to file a gst return? a. Chan's clothing store (an unincorporated business) b. The Chan foundation (a registered charity) c. Min Chan (an individual) d. All of the above
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which of the following could be required to file a gst return? a. Chan's clothing store (an unincorporated business) b. The Chan foundation (a registered charity) c. Min Chan (an individual) d. All of the above
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- Question 3 of 15. A taxpayer must file Form 8862 to claim certain credits after disallowance by the IRS. Which credit is affected by this requirement? Adoption Credit. Child and Dependent Care Credit. Earned Income Credit. Residential Energy Credit. Mark for follow upQuestion 3: Which of the following is taxable for Social Security tax? Answer: А. O Contributions to a 403(b) plan В. O Contributions to a flexible spending account С. O Contributions to a dependent care flexible spending account D. O Contributions to a cafeteria plan19. If an individual renders services to a creditor who in consideration thereof cancels the debt, the cancellation of indebtedness may,amount to a: a. Gift С. Donation inter vivos b. Capital contribution d. Payment of income CS Scanned with CamScanner
- Which of the following expenses is deductible from gross income?* a. Contribution to a newspaper fund for needy families when such newspaper organizes a drive solely for charitable purposes. b. Premiums paid by the self-employer for the life insurance of his employees c. Contribution to the construction of a chapel of a university that declares dividends to its stockholders d. Donation of prizes and awards to athletes in local and international competitions and sanctioned by their respective sport associations.Mulitple choice question When are liabilities recognized for the federal Social Security program? Select one: a. When benefits are paid to the recipients b. When benefits are earned by the recipients c. When benefits are due and payable at the end of a reporting period d. When the social security trust fund receives cash from employees and employersFinance Which of the following companies would help to administer your will? a. RBC Capital Markets b. RBC Insurance c. Ontario Educational Credit Union d. RBC Estate and Trust
- The following is a "perquisites" Select one. O a. Medical allowance O b. Club membership O c. Employee Insurance O d. GratuityQ1: What is an HSA? What 4 types are mentioned in this chapter and how do they work? What type of deduction is a contribution to an HSA. Q2 What are the special rules that limit health insurance as a deduction for AGI? Please link to IRS rules and define terms used in your answer.The following relates to different types of registered plans: Registered Retirement Income Fund Tax-Free Savings Account Registered Education Savings Plan Registered Retirement Savings Plan What plan permits the amount contributed to be deducted from the individual's total income in the year contribution is made or carry forward if unused? Question 2 options: a) i, ii and iii b) ii, iii and iv c) iv only d) None of the above
- Which statement below best describes the entities that can accept donations from the public and provide donors with documentation to allow them to claim a tax deduction in respect of their donation? a. A local state school. b. A private hospital. c. Only entities classified as a deductible gift recipient (DGR) as they meet the necessary requirements to be registered by the ATO. d. Any not for profit organisation.19. What are the significant sources of income for retirement in Malaysia? A. Pension Fund B. Employee Provident Fund C. Social Security Organization D. Private Pension SchemeSelect one of the following nonprofit organizations:1.The American Accounting Association2.American Red Cross3.United Way4.American Cancer Society5.American Institute of CPAsUse the Annual Report of the organization you have selected to:a. Identify the financial statements that the entity presents and what additional disclosure it presents.b. Analyze how contributions are recognized (contributions revenues). Does the organization have net assets with restrictions imposed by donors? What is the nature of the restrictions?