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Taxes and Tax Preparation

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Obie Bradtke

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Cards in this guide (13)
What does the due process clause require of taxes

That they be imposed and administered fairly

What type of property is a property tax levied on

Real

also known as direct tax

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Property taxes in most states in the United States are levied on real property (land and improvements to land, like structures) and personal property (non-real estate, like business equipment or automobiles). Certain types of property, or the owners of such property, may qualify for assessment and/or tax abatements, deferrals, or exemptions.

Did the federal government propose paying a mining company 65 million dollars to abandon a gold mine near Yellowstone National Park in 1997

Yes, the federal government (under President Bill Clinton) proposed paying a mining company $65 million to abandon a gold mine near Yellowstone National Park in 1997.

The price of natural gas rose 4.8 percent in the January 1997 consumer price index the biggest one month rise since record keeping began in 1952

True

Which of these mortgage loans would have the lowest rate

one year

Since 1994 what has happened to the membership in government employee unions

declined

Which term refers to the predetermined amount an individual must pay for the use of borrowed money

The predetermined amount an individual must pay for the use of borrowed money is called interest.

What is John's annual yield when John buys a 1000 bond that pays 6 percent annual interest at 75

8

Which of these is a suitable substitute used for trade barter fiat money coins and paper money

Fiat money is a suitable substitute used for trade barter.

What kind of personal property includes such as stocks bonds and mortgages

Intangible

Which of these is another term for a free enterprise system

Market system

Since their introduction in 1986, air bags have prevented approximately how many deaths

1750

Which of these taxes did lawmakers agree was too tough on farmers and small business persons who want their heirs to continue their work

They agreed that estate taxes were to tough if farmers and small business persons wanted their heirs to continue their work.

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