On september 1, of the current year, james, a cash-basis taxpayer, sells his cottage to bill, also a cash-basis taxpayer, for $100,000. james' basis in the cottage is $65,000. the real property tax year is the calendar year. real estate taxes on the property for the year are $3,650 and are payable in november of the current year. the sales agreement does not provide for apportionment of real estate taxes between the buyer and seller. assume bill pays all of the real estate taxes in the current year. the effects of this sales structure will be?
(a) taxes allocated to james $-0-, taxes allocated to bill $3,650, effect on james' gain effect on gain
(b) taxes allocated to james $3,650, taxes allocated to bill -$-0-, effect on james' gain dec. gain by $1,220
(c) taxes allocated to james $2,430, taxes alocated to bill $1,220, effect on james' gain inc. gain by $2,430
(d) taxes allocated to james $1,220, taxes allocated to bill $2,430, effect on james' gain inc. gain by $1,220
answer; ///guaranteed raises is not a benefit typically offered by an
1.) being hacked by an anonymous stranger.
2.) unauthorized access and fraudulent transactions.
answer: a. stagflation
explaining: stagflation was developed during the 1960s and 1970s. in economics, stagflation, a portmanteau of stagnation and inflation, is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. it raises a dilemma for economic policy, since actions designed to lower inflation may exacerbate unemployment, and vice versa. the term is generally attributed to iain macleod, a british conservative party politician who became chancellor of the exchequer in 1970; macleod coined the phrase in a speech to parliament in 1965.
it would be (i think) identity theft. hope this !