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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

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Keyboarding or typing 100 words per minute can be thought of as a?
Mrrafil [7]

Answer:

Professional career typists

Explanation:

People that can type fast usually use a type of keyboarding known as touch typing. Basically the person typing knows the location of each key by muscle memory.  This increases the speed of typing. But only professional career typists are the ones that can type or exceed 100 words per minute.

4 0
3 years ago
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Jose goes to an all-you-can-eat buffet at a Chinese restaurant and consumes three plates of food. He does not go back for a four
kkurt [141]

Answer:

The marginal utility of the fourth plate is zero or below zero

Explanation:

The reason is that the law of diminishing marginal utility says that the marginal utility of a product declines upon continuous consumption of that item. This means that the utility before the consumption of first buffet was high and when the second buffet was consumed by the same person the utility was further reduced and so on. This means that the utility must be positive which if is higher enough then the customer is will to pay and eat the buffet again. If it is zero or below zero the customer is not willing to pay for the buffet. This is the reason the person doesn't ordered the item again.

You can not eat the same buffet for all the 365 days. This means the taste of a tasty food fades away after some time or I would say that the utility is gone. Same is the case when you will keep using cellphone for a period and then sell it or dispose it because the item doesn't entertains you or in other words the utility has significantly fallen and is almost zero or below zero.

5 0
3 years ago
The expense recognition (matching) principle requires that expenses (expenses/assets/liabilities) be recorded in the same accoun
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Answer:

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Answer: Please refer to Explanation

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Their Joint account is also completely covered at $60,099.

Cynthia however does not have complete coverage as her bank account exceeds to the coverage limit by $3,629 which will not be covered.

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