Hoffman, Young, Raabe, Maloney, & Nellen, CPAs 5191 Natorp Boulevard
Mason, OH 45040
January 14, 2017
Ms. Tanya Fletcher
The Corral
El Paso, TX 79968
Dear Ms. Fletcher:
You asked about the tax consequences of the January 4, 2017 land exchange with Lisa Martin. Based on the data provided, the tax consequences are as follows:
Amount realized $
Less: adjusted basis
Equals: realized gain $
Recognized gain $
Because the transaction as a nontaxable like-kind exchange, only $ of your potential gain of $ is recognized. The adjusted basis for the land received is $.
If I can be of further assistance, please let me know.
Sincerely,
Margaret Adams, CPA
Tax Partner

Which critical success factor improves with reduced cycle time, better quality standards, and improved efficiency when an is is implemented?

If you miss two payments on a credit card what is generally the penalty

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above