Nathan is considered to be a franchiser. A franchiser is
being defined as someone who owns an overaching company or trademarks and
products in which they give a right to the franchisee to be able to run the
franchise’s location in which is agreed with a fee.
To prevent one individual from having too much control, employees can ___share_________ job responsibilities within their home department or across positions in other departments
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Answer:
a)$367,500 b)$91,875 c)Nova will report a loss of $25* and Oscar's gain will be $91850.
Explanation:
a
)
Land will be recorded for section 704(b) book capital purposes = Fair market value = $367,500
Padgett also record the land at $367,500
b)Padgett's tax basis will will bwe same as that of Nova, i.e., $91,875
c)If Padgett sells the land several years later the built in basis of $91,875 will be taxed to Nova only.
so the gain of (551,200-367,500) 183700 divided in two equal parts of 91850 each.
but Nova will report a loss of $25* and Oscar's gain will be $91850.
* The built in tax inherent in contributed property will eventually be taxed to the contributor.
Answer:
Explanation:
to influence people's lives
to inspire people
to work independently without much interaction
