A sharp increase in taxes affects many middle-class families.
A sports-apparel company cuts jobs as a result of slow sales.
A fast-food chain goes out of business and shuts down all of its restaurants.
Explanation:
The circular income or circulated flow is a model for the economy where the big transactions between the market participants are represented as cash flows, goods and services, etc. The cash and goods flows transferred in a closed circuit complement the interest but are going in the reverse direction.
Retirements are factors in an economy that escapes from distributed labor flows and reduces national income sizes.
Withdrawals include: savings, taxes and imports.
Answer:
A) On the 32,000 sale it will be considered a 18,000 gift to the buyer.
Because is above the 15,000 gift per person per year, it will trigger the gift tax.
B) 70,000 will generate a long-term capital gain of 20,000
C) gift of 5,000 it will not trigger the gift tax.
Explanation:
When the sale is below market value, it is treated as a gift to the buyer.
The capital gain or losses are considered using the adjusted basis.
Because Holly acquiredthe land for more than a year, it will be cosnidered a long-term capital gain if any.
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