1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vlabodo [156]
1 year ago
6

Real property taxes are often assessed on the value of the property at the beginning of the year. when property is sold in the m

iddle of year, who receives the deduction for the real property tax?
Business
1 answer:
sergejj [24]1 year ago
6 0

When property is sold in the middle of year, both the buyer and seller can deduct their pro rated portion of the property tax.

The property taxes are based on the assessed value of the property. So when the property tax is pro rated at the time of the transfer, both the buyer and seller can deduct their pro rated portion of the property tax.

Buyer and seller prorations are often applied during real estate closing transactions to divide the cost of expenses like property taxes. Thus, the buyer gets a deduction for the prorated amount of property tax due after closing, and the seller gets the same deduction for the taxes.

Hence, both the buyer and seller receives the deduction for the real property tax.

To learn more about property tax here:

brainly.com/question/15227817

#SPJ4

You might be interested in
During a strike by the United Steelworkers of America in 2010, Honeywell claimed that the union left nails in the plant parking
Snowcat [4.5K]

Answer:

injunction

Explanation:

  • A prohibition is a legal and equitable remed in the form of a special court order that compels the party to commit or reject certain action. "When a court appoints an extraordinary injunction, it sets forth the conduct of one party and does so with the support of its full powers."
  • A party who fails to comply with the ban will face criminal or civil penalties, including criminal sanctions and imprisonment. He can also be charged in a contempt of court case.
  • These are the situations where you can ask the criminal party to stop doing things that hurt and hurt you. However, there are cases where asking does not solve the problem. In such a case, you may want to go to court and ask the judge to intervene in the situation and to treat the offending party as problematic. To do this, you file an injunction.
6 0
3 years ago
When Congress passed a tariff in 1828, South Carolina tried to nullify it toa. To increase the price of exported and imported go
nalin [4]

To assert the power of the state governments over the national government and to indicate that a state should have the ultimate authority over its citizens

Answer: Option B.

<u>Explanation:</u>

In November 1832, the Nullification Convention met. The show announced the taxes of 1828 and 1832 unlawful and unenforceable inside the province of South Carolina after February 1, 1833. It was declared that endeavors to utilize power to gather the duties would prompt the state's withdrawal.

Calhoun, who restricted the government inconvenience of the duties of 1828 and 1832 and contended that the U.S. Constitution gave states the option to obstruct the authorization of a government law. In November 1832 South Carolina received the Ordinance of Nullification, pronouncing the duties invalid, void, and nonbinding in the state.

5 0
3 years ago
Susan started a cake decorating business that failed. She is convinced that she lacked the necessary funds to promote her busine
Georgia [21]

Answer: Undercapitalization

Explanation:

Undercapitalization is defined as the situation where a person or entity of any kind does not have sufficient funds or capital to run their business and pay the costs it has. This type of situation usually occurs when the business is not selling the necessary amount of products or services to generate the amount of income necessary to meet all the payments it has.

When an entity or business is undercapitalization, in many cases they have had to take measures such as downsizing, fewer materials to create the product, or ultimately, if none of this works, having to close the business.

4 0
3 years ago
In a minimum 200 words explain the idea behind the balance of power. How did this concept play itself out in Europe? How was thi
Ket [755]

Answer:

Hi

It meant a political situation among the states in which none of them achieved a power superior to the others. It is an idea of the late Middle Ages, applied to major or minor geographic regions that comprise the plurality of sovereign territories. Throughout Europe there is a legitimate feeling, always subject to interpretation, whereby any action required the confirmation of the rest of the States, the most significant case being the invasion of a territory. In this way the doctrine of just war was reached, to the problem of to what extent and to what extent the actual or imminent engraving of a State could mean a warlike justification. Transactions between contestants, neutral or rival, never ended, hence the relevance of diplomacy, as the concepts of balance, neutrality, freedom of Europe or sovereignty are interpreted continuously, while being used in conversations. Some thought of equilibrium as a natural system, because it was a consequence of international relations, and when a great power had too much force it threatened the others, and therefore, had to counteract the disproportion. Others considered it a desired goal for which he had fought.

In the rest of the world this balance of powers is characterized by the profusion of dictatorial or authoritarian regimes that have dominated the political scene and that have influenced the future of their peoples. A second point is the emergence of serious and bloody war conflicts, by territorial issues, which is not explained very well both in its unleashing and in its results, as consequences of the mere quantification of the powers faced. In all these, both in its gestation and its consequences, the role it plays in the character, personal ambitions and strategic conceptions of the leaders or rulers who govern the destinies of the countries involved appears with particular relevance.

Explanation:

7 0
3 years ago
Bond P is a premium bond with a coupon rate of 9.2 percent. Bond D is a discount bond with a coupon rate of 5.2 percent. Both bo
Vera_Pavlovna [14]

Answer:

Please see attachment

Explanation:

Please see attachment

5 0
3 years ago
Other questions:
  • Which is NOT a crucial question about target markets? Select one:
    9·1 answer
  • The following ledger accounts are used by the Heartland Race Track
    8·1 answer
  • What does it mean to have a shortage of goods?
    7·1 answer
  • Kayla is a supervisor who manages a production line. she spends several hours each week developing specific employee work assign
    13·1 answer
  • Managers that must analyze data from 500 hotels to determine when to discount rooms based on occupancy patterns would be placed
    8·1 answer
  • Business personal property rendition of taxable property. True or False
    5·1 answer
  • Explain why it is not necessary for paper money to be backed by some commodity (eg gold) before it can have value?
    5·1 answer
  • For the past year, Momsen, Ltd., had sales of $45,797, interest expense of $3,620, cost of goods sold of $16,134, selling and ad
    9·2 answers
  • Ferkil Corporation manufacturers a single product that has a selling price of $25.00 per unit. Fixed expenses total $65,000 per
    10·1 answer
  • When should a transfer of receivables be recorded as a sale? The buyer surrenders control of the receivables to the seller. The
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!