The Most Efficient Way to Reduce Taxes Is to

question 26

Multiple Choice

The most efficient way to reduce taxes is to

• A)use non-refundable tax credits first.
• B)use refundable tax credits first.
• C)transfer transferrable tax credits to the highest income earning spouse.
• D)carry forward last year's unused RRSP contributions.

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Definitions:

Disadvantages

The negative, less favorable aspects or conditions of a situation, proposal, or plan.

Stock Options

Financial instruments granting the holder the right to buy or sell shares of a company's stock at a predetermined price within a specified timeframe.

Stock Purchase Plans

Programs offered by companies allowing employees to purchase company stock often at a discount, as part of their benefits package.