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3 years ago

Tax that you pay when making a profit from selling a house is an example of:

Business

2 answers:

Monica [59]3 years ago

7 0

The option (A) is correct.

Tax that you pay when making a profit from selling a house is an example of capital gain tax.

Further Explanation:

Capital Gain Tax

Capital gain tax is a direct tax. It a on the capital gain earned at the time of the sales of fixed assets. Capital gain is the difference between the sales value and the purchase value of an asset. When the owner of an asset sells the asset in the market, and the sales price is higher than the purchase price, then the difference is known as a capital gain or profit. The government charges capital gain tax on the capital gain or profit. Capital gain tax varies from 0% to 20%. Capital gain tax differs from asset to asset.

Tax on the profit of sales of a house:

The tax on the profit of sales of a house is an example of capital gain tax.

House is a fixed asset. When the owner of the house sells, it then the profit on the sales of the house is capital gain. The government would charge capital gain tax on the capital gain (profit) earned on the sales of the land.

Thus, the taxpayer has to pay capital gain tax on the profit earned from the sales of the house.

Learn more:

1. Learn more about the capital gain tax

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2. Learn more about the state income tax

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3. Learn more about the personal taxation

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Answer details:

Grade: Senior School

Subject: Taxation

Chapter: Capital Gain Tax

Keywords:Tax, making, profit, from selling a house, example, Capital Gains Tax, Sales Tax, Income Tax, Property Tax.

UkoKoshka [18]3 years ago

4 0

Tax that you pay when making a profit from selling a house is an example of: A. Capital Gains Tax
Every time you sell an asset that is not under investment category, The difference between your selling price with the initial cost when you buy that asset should be recorded as a Capital Gain.
In United states, you're inclined to pay around 28 % from the total capital gain as Capital Gain Tax

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Answer:

d. $2,676

Explanation:

The computation of the horizontal value is shown below:

FCF1 = (100 × 1.06) = 106

FCF2 = (106 × 1.06) = 112.36

FCF3 = (112.36 × 1.06) = 119.1016

FCF4 = (119.1016 × 1.06) = 126.247696

FCF5 = (126.247696 × 1.06) = 133.8225578

Now

Horizon value is

= FCF5 ÷ (Cost of capital - Growth rate)

= 133.8225578 ÷ (0.08 - 0.03)

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Hence, the correct option is d.

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2 years ago

At age 50, Charles began receiving payments under a distribution method that provides for substantially equal payments over his

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Answer:

correct answer is 4) $169,000.00

Explanation:

given data

received distributions totaling = $14,000

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solution

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when designing a supply chain that meets customer requirements and aligns with strategy, what are the two goals that firms try t

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Designing a supply chain that meets customer requirements and aligns with strategy to be more effective to be more responsive.

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As a firm's sales grow, its current assets also tend to increase. For instance, as sales increase, the firm's inventories genera

yanalaym [24]

Answer: True

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