We appreciate your visit to If a buyer Zeke pays taxes that the sellers Mr and Mrs Parkerson owed on a home the taxes up to the date of the. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
In this scenario, the taxes are considered paid by the homeowners, Mr. and Mrs. Parkerson, even though it was paid initially by the buyer, Zeke. Zeke doesn't assume any tax liability because he was reimbursed.
Explanation:
In this scenario, if a buyer, Zeke, pays taxes that the sellers, Mr. and Mrs. Parkerson, owed on a home (the taxes up to the date of the sale) and Mr. and Mrs. Parkerson reimburse Zeke, then the taxes are considered to be paid by the owners (Mr. and Mrs. Parkerson). Technically speaking, Zeke has just acted as an agent in paying the taxes. He does not assume any tax liability because he is reimbursed by the Mr. and Mrs. Parkerson. The final tax liability resides with the owners (Mr. and Mrs. Parkerson) as they ultimately made the payment, even though it was paid initially by Zeke.
Learn more about Real Estate Taxes here:
https://brainly.com/question/31070427
#SPJ3
Thanks for taking the time to read If a buyer Zeke pays taxes that the sellers Mr and Mrs Parkerson owed on a home the taxes up to the date of the. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
If a buyer, Zeke, pays taxes that the sellers, Mr. and Mrs. Parkerson owed on a home (the taxes up to the date of the sale), and Mr. and Mrs. Parkerson reimburses Zeke, then the taxes are subtracted from the basis of the home.
What is tax explain?
Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses. Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools.
What is the main purpose of tax?
In practically every nation on the planet, taxes are mandatory levies that are imposed by the government on people or organizations. Although it can be used for other things as well, taxes are typically utilized to raise money for government spending.
Why should we pay taxes?
The government uses taxes to fund various welfare programs, such as employment programs. There are thousands of personnel working in numerous departments, and the government is responsible for covering the administrative costs.
Learn more about taxes: https://brainly.com/question/16423331
#SPJ4
