Land Tax question?

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Income Tax Question on Compensation received on compulsary acquisition of agriculture land.?

An Individual received compensation on the land compulsary acquired by the govt. It was the agriculture land. The ITO(Income Tax Officer) taxed the entire amount received as compensation. Is the compensation received on compulsary acquisition of agriculture...

Answer:

since I had similar problem ,I let you know what my auditor did to me.There is no need to pay tax if...

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Land Value Tax. Econ Question?

Why will a tax on land value will not generally be a burden on landowners who buy land after the tax has been enacted?

Answer:

Tax obligations are always a burden but should be expected.

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Tax Free Land Border Question?

We(Our nationality is not in european union) are students in slovenia close to croatia border. Since croatia didnt enter European Union, we would like use tax free by leaving slovenia and thus entering Croatia by car. We are 30 km to border so we will...

Answer:

Da, lahko ni zakon ki bi to prepovedal. Yes if you don't understand!

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Tax question: do I have to pay taxes on a public domain land purchase from the state?

I am settling with the state on public domain land. my question is that, i have not spoken to my brother in 20 years but we are both on the deed, will the state split up the checks or will they buy it off of us and send one check that I may never see...

Answer:

You must report your part of the sale on the 1040 schedule d. Your gain/loss will depend on your cost...

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Tax question about purchase of land and building?

If a partnership buys both a piece of property and a building, can they capitalize the cost of the land and deduct for the building? My guess is "no" because land does not have an ascertainable life, but my tax textbook is really confusing...

Answer:

Nonresedential real estate (commercial building) is depreciated on a 39 year recovery period. Land is...

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Answer:

nope your welcome

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Financial accounting exercise about deferred tax?

[Authors’ note: This question has been included for students who wish to consider the partial provision method of accounting for deferred tax, which was required by SSAP 15 but is now outlawed by FRS 19.] The Accounting Standards Board (ASB) currently...

Answer:

i am not sure

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How should my Dad leave us the proceeds from the sale of his land?

My Dad owns about 20 acres of land in a small town that he wishes to give to my brother, my sister, and myself now, not when he passes. My siblings and I plan to split the proceeds of the sale of the land evenly amongst us. Which way, tax-wise, would...

Answer:

My question is: which way, tax-wise, would maximize the amount of money we receive from the land in...

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2011 tax issues, i desperately need help, again... BAH!!! I HATE TAXES!! hahaha?

so i just finished filing my 2011 tax return on saturday february the 11th. and after a 3 hour ordeal i was celebrating the fact i was done with taxes for another year or so i thought, just like a dreaded sequel to an already terrible horror movie. i...

Answer:

You can't file twice for the same year. You file once, then you amend using a 1040-X. In future years...

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