1) All of a taxpayer’s income is subject to federal income taxes.
2) A taxpayer whose itemized deductions were less than his or her standard deduction
would benefit by itemizing deductions.
3) Convertible term insurance allows one to change the policy from the life of one
person to that of another person without proving insurability.
4) Noncancelable policies must be continued in force without premium changes up to
age 70 as long as the participant pays the required premium.
5) When interest rates are low, buy bonds.
6) The longer the time period, the greater the negative impact of front-end loads on the
total return for the mutual fund investor.
7) Affinity cards are prestige bank cards with the logo of a sponsoring organization
imprinted on the face of the card.
8) Life insurance should definitely provide funds to pay off all debts if the breadwinner
dies.
9) A taxpayer who is age 65 or older and/or blind may claim an extra amount for his or
her standard deduction.
10) Cash management focuses primarily on your investment assets.