Tax cfp exam - Study guides, Class notes & Summaries

20232024 COMPLETE EXAM FOR CFP 4 - CHAPTER 2 (INCOME TAX FUNDAMENTALS AND CALCULATIONS: DEDUCTIONS AND CREDITS) Standard Deduction - CORRECT ANSWER-AGI is reduced by greater of Standard Deduction or Itemized Deduction Based on filing status and calendar year of filing Taxpayer 65 and older can take an additional deduction, another deduction available to those who are blind Itemized Deductions - CORRECT ANSWER-AGI is reduced by greater of Standard Deduction or Itemized Deduction Repo...

CFP 2022/2023 Exam- Retirement Planning with Verified Questions and Answers How many quarters of coverage do you have to have to be fully eligible for SS? - CORRECT ANSWER 40 How are railroad employees covered for SS? - CORRECT ANSWER They arent, they have another retirement program What is the lump sum death benefit from SS? - CORRECT ANSWER $255 How long is the waiting period for SS disability benefits? - CORRECT ANSWER 5 months How long does someone have to be disabled for, and be ...

CFP Exam Review(upgraded questions and answers)2023 Topic 1: Financial Planning Process - CORRECT ANSWER-... 6 step process: EGADIM - CORRECT ANSWER-1. Establish Relationship 2. Gather Information 3. Analyze data 4. Develop plan 5. Implement 6. Monitor Step 1: Establish Relationship - CORRECT ANSWER-• Services that will be provided • compensation/billing • Responsibilities of both client/planner • Time frame of relationship Step 2: Gather quantitative and qualitative data -...

CFP exam new update 2023 with complete solutions 6 step process: EGADIM - CORRECT ANSWER 1. Establish Relationship 2. Gather Information 3. Analyze data 4. Develop plan 5. Implement 6. Monitor Step 1: Establish Relationship - CORRECT ANSWER • Services that will be provided • compensation/billing • Responsibilities of both client/planner • Time frame of relationship Step 2: Gather quantitative and qualitative data - CORRECT ANSWER • It is important that goals be defined b...

EXAM REVIEW FOR TOPIC 34 INCOME TAX FUNDAMENTALS AND CALCULATIONS Andrew Wyman works at a graphic arts business, and his wife has a bookkeeping business. Andrew's employer has a profit- sharing plan for employees and contributes 3% of compensation annually. The Wymans have provided the following information for income tax planning this year: Salary- $109,000 Corp. dividends- $3,000 Bookkeeping income- $12,000 IRA contribution- $11,000 Mortgage interest- $9,000 Capital losses- ...

CFP exam Study Guide Topic 1: Financial Planning Process - Answer-... 6 step process: EGADIM - Answer-1. Establish Relationship 2. Gather Information 3. Analyze data 4. Develop plan 5. Implement 6. Monitor Step 1: Establish Relationship - Answer-• Services that will be provided • compensation/billing • Responsibilities of both client/planner • Time frame of relationship Step 2: Gather quantitative and qualitative data - Answer-• It is important that goals be defined before...

CFP Exam Flash Cards with Correct and Updated Solutions 2022/2023 Savings Strategy: How much of your gross income should you save? - CORRECT ANSWER 5-8% Securities Act of 1933 - CORRECT ANSWER Purchasers of new issues must be provided with a detailed prospectus before transaction. Securities Act of 1934 - CORRECT ANSWER Regulates the secondary Market or trading of issued securities. This act created the SEC Investment Company Act of 1940 - CORRECT ANSWER SEC can regulate UITs, Mutu...

20232024 COMPLETE EXAM FOR CFP 4 - CHAPTER 2 (INCOME TAX FUNDAMENTALS AND CALCULATIONS: DEDUCTIONS AND CREDITS) Standard Deduction - CORRECT ANSWER-AGI is reduced by greater of Standard Deduction or Itemized Deduction Based on filing status and calendar year of filing Taxpayer 65 and older can take an additional deduction, another deduction available to those who are blind Itemized Deductions - CORRECT ANSWER-AGI is reduced by greater of Standard Deduction or Itemized Deduction...

HS 300 Exam Review Questions With Correct Answers For SEC registration purposes, which act sets the limit for assets under management? - answerThe Investment Advisors Act What is an appropriate investment for an emergency fund? - answerA money market mutual fund. What is the yield to maturity of a $1,000 face amount bond that currently sells for $875, pays $60 of interest at the end of each year, and matures in 10 years? - answer7.85% Keystrokes: 1000FV, 875+/-PV, 60PMT, 10N; I/yr Accor...