Business presentations Flashcards
What type of life insurance will expire?
Term
Which health coverage will pay a lump sum of money if you need to claim it?
Critical illness
With critical illness insurance, which of the following will be covered?
Stroke
As a business owner, what would be an advantage of having life insurance?
Premiums are a tax write off
If you are self employed in 2012, in order to avoid late filing penalties, your income taxes must be filed by?
June 15,2013
If you are self employed in 2012, and owe taxes, in order to avoid interest penalties, this amount must be paid in full by?
April 30,2013
As a self employed, home based business person you may claim 100% of the following expenses?
All expenses related to the running of the business, such as advertising,licensing,office expenses,supplies,liability insurance,accounting fees,office rent or a % of your household expenses based on the % use of the house
Purchases of equipment and machinery to be used in the business may be claimed?
These purchases are claimed under the”capital cost allowance” and may be written off over several years as per the prescribed CRA schedule
How long do you need to keep receipts associated with your business?
7 years (6+1)
You can claim long term care insurance when?
You need assistance with at least 2 of your essential daily activities
A business bank account will become inactive after ____ months of inactivity?
12 months
Self service bank transactions are?
Less expensive than full service transactions
At many banks, it is common that cheques presented for cash or deposit may have a hold placed on them for ____ business days?
4 days
To void monthly maintenance fees associated with a business account, the account must have a minimum of?
$5,000 dollars
On a personal secured line of credit, the rate of interest is?
Prime + 1%
