Explain the implications of a 5% VAT removal on real estate and excise tax on petroleum...

Explain the implications of a 5% VAT removal on real estate and excise tax on petroleum on the following line

i.horizontal equity

ii. vertical equity

iii Efficiency

Expert Solution

Rahul Sunny answered 2 years ago

Explain the implications of a 5% VAT removal and excise tax on petroleum products along the...

Explain the implications of a 5% VAT removal and excise tax on petroleum products along the following lines i. horizontal equity ii. vertical equity iii. Efficiency

using the Harbeger triangle, explain why removal of VAT on real estate and excise tax on...

using the Harbeger triangle, explain why removal of VAT on real estate and excise tax on petroleum products is considered as idle. use diagram where appropriate

Explain real estate deductions

How to explain the impact of the operation of an excise tax on tobacco sales with...

How to explain the impact of the operation of an excise tax on tobacco sales with a demand and supply curves? Including the role of price elasticity.

Describe the tax implications of a Revocable Trust versus a Personal Will for John Jacob’s estate...

Describe the tax implications of a Revocable Trust versus a Personal Will for John Jacob’s estate valued at $6,200,000 with wife as beneficiary. He also has a $2,500,000 life insurance policy, owned by the revocable trust with the beneficiaries being his three children.

Tabitha sells real estate on March 2 of the current year for $350,800. The buyer, Ramona, pays the real estate taxes of $17,540 for the calendar year, which is the real estate property tax year.

Tabitha sells real estate on March 2 of the current year for $350,800. The buyer, Ramona, pays the real estate taxes of $17,540 for the calendar year, which is the real estate property tax year.Round any division to four decimal places and use in subsequent calculations. Round your final answers to the nearest dollar. Assume a 365-day year.a. Determine the real estate taxes apportioned to and deductible by the seller, Tabitha, and the amount of taxes deductible by Ramona.Tabitha: $Ramona:...

FASB ASC 5-3 Real Estate. Several FASB Statement deal with accounting for real estate sales. Search...

FASB ASC 5-3 Real Estate. Several FASB Statement deal with accounting for real estate sales. Search the FASB ASC database to determine under what conditions profit from real estate sales can be recognized. Cut and paste your findings, and then write a summary of what you found. Financial Accounting Theory And Analysis Text and Cases 12th Edition.

Compute the cash flow, tax flow, and after tax flow for the following real estate investment...

Compute the cash flow, tax flow, and after tax flow for the following real estate investment property: -Gross rents are expected to be $36,000 per year -Expected vacancy allowance is 5% of gross rents -Property management fees are 8% of rents collected -Total estimated operating expenses per year $7,200 -Payment of mortgage per year: Interest 12,000 Principal 3,000 Total 15,000 -Depreciation allowance for the year is $14,350 -The owner's earned income is $100,000 and his marginal tax bracket is 30%...

Tabitha sells real estate on March 2 for $260,000. The buyer, Ramona, pays the real estate taxes of $5,200 for the calendar year, which is the real estate property tax year. Assume that this is not a leap year.

Tabitha sells real estate on March 2 for $260,000. The buyer, Ramona, pays the real estate taxes of $5,200 for the calendar year, which is the real estate property tax year. Assume that this is not a leap year. a. Determine the real estate taxes apportioned to and deductible by the seller, Tabitha, and the amount of taxes deductible by Ramona. b. Calculate Ramona’s basis in the property and the amount realized by Tabitha from the sale.

Tom sells real estate on March 2 for $260,000. The buyer, Raul, pays the real estate taxes of $5,200 for the calendar year, which is the real estate property tax year. Assume that this is not a leap year.

Tom sells real estate on March 2 for $260,000. The buyer, Raul, pays the real estate taxes of $5,200 for the calendar year, which is the real estate property tax year. Assume that this is not a leap year.A. Determine the real estate taxes apportioned to and deductible by the seller, Tom, and the amount of taxes deductible by Raul.B. Calculate Raul's basis in the property and the amount realized by Tom from the sale.

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