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Q: How do the differences between real and personal property affect small businesses?
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What is the difference between real property tax and personal property tax?

There are a few differences between real property tax and personal property tax. First, the term "real" usually involves homes, apartments, or land that a person may own. Personal property tax usually refers to personal luxury items such as jewelry. Additionally, vehicles are not considered "real" property. Real property is sort of land-based property. Another example would be a farmhouse or even a bridge.


What are the 15 differences between individual and business insurance?

The only difference that matters is that business insurance is built for and designed to protect a businesses assets from claims that might happen to a business, while personal insurance is designed to protect personal exposures. The differences between business and personal insurance are so wide and staggering that it doesn't make sense to shoot for 15, there are over 1,000 differences.


How is real property different from personal property?

The difference between personal property and real property is that personal property can depreciate faster than improvement made on real property.


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The terms personal property and contents can sometimes be used interchangeably. Many times personal property and contents both refer to the items you own.


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