Raymond’s grandfather recently passed away. He left Raymond $1,000,000 in his will. Raymond’s lawyer tells him not to spend all $1,000,000 because he will owe some of it to the government. Why is this MOST likely true?


A. Raymond will have to pay inheritance tax.


B. Raymond will have to pay real estate property tax.


C. Raymond will have to pay excise tax.


D. Raymond will have to pay estate tax.

Answers

Answer 1

Answer:

Raymond will have to pay inheritance tax.

Explanation:

Answer 2

When you receive money or property from a decedent's estate, you are required to pay an inheritance tax, which is a type of state tax. In contrast to the federal estate tax, the property's beneficiary is in charge of paying the tax, not the estate. Only six states have inheritance taxes as of 2022.

Explain about the inheritance tax?

For federal tax reasons, whether you inherit money, investments, or property, inheritances are not regarded as income. However, unless they come from a tax-free source, any further earnings on the inherited assets are subject to taxation.

There is no federal inheritance tax, which is a charge on the total amount of assets a person inherits from a decedent. For 2021 and 2022, however, estates worth more than $11.7 million and $12.06 million, respectively, are subject to a federal estate tax. Only the portion of an estate that exceeds such sums is subject to tax.

If you leave a home, vacate, and live in another place for seven years, there is typically no IHT to pay.

The answer is Raymond will have to pay inheritance tax

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Related Questions

Discuss how an event’s ability to help us escape from everyday life and worries can be advantageous for marketers.

Answers

Answer:

An event's ability to give people a break from everyday life worries is a advantage for marketers because it makes their job easier. An event takes our mind off of things and it relieves their stress. This means that marketers don't need to focus on spreading info.

In the Month of March, Baldwin received orders of 156 units at a price of $15.00 for their product Bolt, and in April receives an order for 39 units of their product Bolt at $15.00. Baldwin uses the accrual method of accounting and offers 30-day credit terms. Baldwin delivers 0 units in March, 156 units in April and 39 units in May. They received payment for 156 units in April and payment for 39 units in May.

Required:

How much revenue is recognized on the March income statement from this order?

Answers

I think the answer is (66 I got Thai chicken salad and a wonderful meal so 3+2= 7

how you can deal with competition in a business​

Answers

I would defintley say try to make offers better than the competion even if you lose some money but ya gotta know that it will be worth it because people will recognize your store more than the other because you have daily offers (if you do em)

how much taxable income does a single taxpayer have if they owe $4838 in taxes?​

Answers

They owe the the current taxes they need to pay plus the past due one ($4,838) and the interest fee for both.

Popularity increases a product’s

A. price

B. utility

C. life cycle

D. trial period

Answers

Answer:

life cycle

Explanation:

When a product has been popularized with adverts, people will know d product and will wanna try it out.Once this happens,the product will still be in existence prolonging the life cycle

Violet Inc. has been undertaking a lot of responsibilities as a company in order to be the best in its industry. Over time, however, these responsibilities become tough to handle and the company finds it difficult to efficiently manage the time and effort to perform its activities. In contrast, other firms in the industry that outsource some of their activities to smaller companies find it easier to generate more profit than Violet Inc. The situation faced by Violet Inc. in this example illustrates one of the important disadvantages of vertical integration that is _________.
A. loss of focus
B. loss of flexibility
C. loss of frequency
D. loss of facility

Answers

( b ) : loss of flexibility.

________________ mortgage is two or more mortgages consolidated into one payment, and is usually designed to allow the buyer to purchase with a smaller down payment, with the added benefit of a below market interest rate first mortgage. The sellers receive all of their cash at the time of closing, while the lender wraps new money around an existing assumable loan. This type of loan limits its use to homes with an existing FHA or VA loans because most other conventional loans have alienation or due on sale clauses.

Answers

Answer:

wrap around mortgage

Explanation:

A wrap-around mortgage is can be used in deals of owner-financing.

Wrap around mortgage refers to two or more mortgages consolidated into one payment. Such type of mortgage allow the buyer to purchase with a smaller down payment. A buyer also gets an added benefit of a below market interest rate first mortgage. A wrap-around mortgage can only be used to homes with an existing FHA or VA loans.

What is the median of this
data?
3, 4, 7, 6, 1

Answers

the answer is 4 i think

Functions of Money Jeffrey has had a busy day. Today he went to a financial manager to begin planning for his son's future. He opened a college savings account. This is an example of a

Answers

Answer:

Store of value.

Explanation:

In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.

Simply stated, money refers to any asset which can be used to purchase goods and services by customers.

This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.

The three (3) main functions of money all over the world are;

I. Medium of exchange.

II. Unit of account.

III. Store of value.

In this scenario, Jeffrey went to a financial manager to begin planning for his son's future by opening a college savings account. Thus, this is is an example of a store of value because the purchasing power was transferred from the present to the future.

In conclusion, money being a store of value makes it possible to transfer purchasing power between traders and buyers from the present to the future.

Describe the auto industry in terms of the five market characteristics

Answers

Answer:

comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. ... The word automotive comes from the Greek autos (self), and Latin motivus (of motion), referring to any form of self-powered vehicle.

The auto industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles.

Why is the automobile industry?

Automobiles can increase the quality of life through increased mobility, comfort, and safety. The industry also contributes to job creation and skill development. Its numerous forward and backward links bring both direct and indirect employment.

What type of market is the automobile industry?

The US automobile industry is a good example of an oligopoly. It consists mainly of three major firms, General Motors (GM), Ford, and Chrysler. The influence of this oligopoly can be seen in the prices and the development and introduction of new car models into the American car market.

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Question 2 of 40
What does the 'P' in the acronym PEST stand for?
A. Price
B. Political
C. Promotion
O D. Positive
SUBN

Answers

Answer:

The answer would be B. Political.

Explanation:

PEST Analysis (Political, Economic, Social, and Technological) is a management method whereby an organization can assess major external factors that influence its operation in order to become more competitive in the market. As described by the acronym, those four areas are central to this model.

The 'P' in the acronym PEST stands for political. The correct option is B. Political, Economic, Social, and Technological analysis is known as PEST analysis. This kind of analysis is used to evaluate outside variables that might affect a company's profitability.

What is political in PEST analysis?

The threats and weaknesses used in a SWOT analysis are found using a PESTEL analysis. Political factors include government leadership, change, and policies related to foreign trade, as well as internal political issues and trends, tax policy, and trends in regulation and deregulation.

A measurement tool called PEST Analysis is used to evaluate markets for a specific product or industry over a specific period of time. Political, Economic, Social, and Technological (PEST) factors Organizations can make better business decisions after these factors are analyzed.

Thus, the ideal selection is option B.

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which goal is an example of a measurable goal?

Answers

Sales Target

Explanation:

A sales target is an example of a measurable goal and it is probably the most common, and perhaps the most important, measurable goal in a firm.

It simply consists in determining a minimum number of goods or services to be sold, measured in either physical or monetary terms, in order to keep the firm afloat and profitable.

For example, a firm that sells cars can determine that for the month of january it must sell at least 250 cars in order to stay in business. If the goal is not reached, the sustainability of the firm can be endangered.

Help by None other than the #QUEEN herself #DRIPPQUEENMO

Question 2 of 25
Compared to CDs, basic savings accounts are
interest rates.
liquid and have
A. less; higher
B. less; lower
C. more, lower
D. more; higher

Answers

Answer:

C:

Explanation:

CD's are less liquid and tie up your $$ for a certain period of time, however, extend to you a higher interest rate.  

Answer: A: Less and higher

Explanation:

explain the effect of a lack of shortage of entrepreneurs in the economy ​

Answers

Explanation:

Lack of entrepreneurs will lead to lower jobs, innovative products and a decline in economy. By developing new technology, goods, and services, entrepreneurs help to fuel the economic growth.

Define ''limited in stock''

Answers

Answer:

Inventory status of “Limited Stock” means that the retailer is reporting an item quantity of 1 on hand. This last remaining unit is oftentimes a display model of the product and therefore may not be available for sale. Occasionally a retailer may indicate "Limited Stock" for high demand items as well.

Explanation:

What are items such as health insurance, life insurance, sick days, vacation time, and retirement savings called when provided by an employer?

A. paybacks

B. benefits

C. payroll

D. bonuses

Answers

I think it is B. Benefits

Help needed ASAP! Will give brainliest;) Try to help on my other questions:)

Entrepreneurs file a DBA document when using another name for their company. Why are DBA’s necessary?

A). DBA’s provide trademarking of the company logo.

B). DBA’s provide identification for taxes.

C). DBA’s are needed to open bank accounts.

Answers

The answer to your question Is b.

Julie Martin bought stock for $3,000, using $2,000 of her own money and $1,000 borrowed from the broker. One month later, the stock is sold for $3,850. Interest owed to the broker is $15; brokerage commissions to buy and sell the stock totaled $150.
What is the rates of return?

Answers

Answer:

His return is 22.83%

Hope it helps

Answer:

21.64%

Explanation:

First you would want to take the total cost of buying the stock and add it up.

1000+2000+15+150=3165

After this you would take the price at which it was sold ($3850) and subtract 3165 from it.

3850-3165=685

$685 is the total profit.

Finally you would take the total profit and divide it by the total cost.

685/3165=0.2164297

This gives you the final Rates of Return of 21.64%

Consumer education focuses heavily on a product’s

A. point of difference

B. price

C. profit potential

D. utility

Answers

The answer is B- prices

Plzzz helppp ASAP

What do business provide to the government?

Answers

Answer:

It provides paying taxes

Explanation:

9. The financial aid you receive is called
1) an award
2) a grace period
3) a renewable award
4) non-renewable award

Answers

The answer to your question is...
An Award.

What happens to the area of a circle if the circumference is doubled?
A. The area is 1/2 of the original circle
B. The area is the same as the original circle
C. The area is 2 times the original circle
D. The area is 4 times the original circle
E. The area is 8 times the original circle​

Answers

Answer:

Option C

.........djhxushsjsg

Answer:

Hello There!!

Explanation:

The answer is D. The area is 4 times the original circle.

hope this helps,have a great day!!

~Pinky~

If you’ve insured a home for $200,000 and the home is only worth $150,000, you can only receive $150,000 at the most if you file a claim. A. True B. False

Answers

Answer:

It is true

Explanation:

Got it right! :D

The insurance payout is based on the cost to rebuild or repair the home, not the market value or appraisal value, so you could potentially receive up to the policy limit of $200,000 if the cost to rebuild or repair is higher than the home's value. Therefore, the given statement is false.

What is insurance payout?

An insurance payout refers to the amount of money that an insurance company pays to its policyholder or beneficiary when a covered loss or event occurs. The payout is typically based on the terms of the insurance policy and the amount of coverage that the policyholder has purchased.

Insurance payouts can be made in various forms, including cash, check, or electronic transfer. They are intended to compensate the policyholder or beneficiary for the financial losses incurred as a result of the covered event, such as property damage, personal injury, or death.

In order to receive an insurance payout, the policyholder must file a claim with the insurance company and provide documentation of the loss or event. The insurance company will then review the claim and determine the amount of the payout based on the terms of the policy and the circumstances of the loss.

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8
Select the correct answer.
Which area of engineering focuses on the design, construction, and maintenance of energy facilities?
ОА. .
chemical engineering
OB.
civil engineering
OC.
mechanical engineering
OD.
environmental engineering
Reset
Next

Answers

Answer:

civil engineer is the answer

Complete the following sentence.
___work involves working for different employers by the assignment without long-term
commitment.

Answers

Answer:

Contractor

Explanation:

Typically, CONTRACTOR work involves working for different employers by the assignment without a long-term commitment.

This is because the contractor is only meant to deliver the job well or as agreed and eventually get paid for his services on that particular project. The contractor is not on the payroll of the employer. He has a client-contractor relationship with the employer instead of the employer-employee relationship

Julie and Barry Spinos purchased a house for $96,400. They made a 25 percent down payment and financed the remaining amount at 5.50 percent for 30 years. Their monthly payment is $410.66. How much of the first monthly payment is used to reduce the principal?

Answers

Answer: $79.30

Explanation:

Cost of the house = $96400

Down payment = 25% × $96400 = $24100

Mortgage = $96400 - $24100 = $72300

Interest = 5.5%

Time = 5 years

Monthly payment.= $410.66

The interest for first payment will be:

= $72300 × 5.5% × 1/12

= $72300 × 0.055 × 0.08333

= $331.36

Therefore, the amount of the first monthly payment is used to reduce the principal will be:

= $410.66 - $331.36

= $79.30

the three parts of communication

Answers

Answer:

The act of communicating involves verbal, nonverbal, and paraverbal components. The verbal component refers to the content of our message‚ the choice and arrangement of our words. The nonverbal component refers to the message we send through our body language.Explanation:

1. VERBAL COMMUNICATION

Verbal communication seems like the most obvious of the different types of communication. It utilizes the spoken word, either face-to-face or remotely. Verbal communication is essential to most interactions, but there are other nonverbal cues that help provide additional context to the words themselves. Pairing nonverbal communication with the spoken word provides a more nuanced message.

2. NONVERBAL CUES SPEAK VOLUMES

Nonverbal communication provides some insight into a speaker’s word choice. Sarcasm, complacency, deception or genuineness occur within nonverbal communication. These things are often communicated through facial expressions, hand gestures, posture and even appearance, all of which can convey something about the speaker. For instance, a disheveled speaker with wrinkled clothes and poor posture would communicate a lack of confidence or expertise. A speaker with a nice suit, who stood up straight and spoke clearly, may appear more serious or knowledgeable.

3. VISUAL COMMUNICATION

Visual types of communication include signs, maps or drawings as well as color or graphic design. These typically reinforce verbal communication, and they help to make a point. Visual aids can help a speaker remember important topics, give the audience something to look at, and generally help convey the message being presented.

Question 26 of 40
What is warehousing?
A. Production of products
B. Selling of products to consumer
C. Holding goods that are awaiting sale or movement
D. Providing raw materials for production
SUBMIT

Answers

Answer: The answer is C

Explanation:

Holding goods that are awaiting sale or movement is warehousing. Hence, option C is correct.

What is warehousing?

Warehousing is the process of keeping physical inventory for a future sale or distribution. When companies need to temporarily store items in big quantities before shipping them either individually to customers or to other places, enterprises of all kinds employ warehouses.

Tangible goods or inventory are maintained in a storage facility as warehousing prior to being sold and delivered. In order to protect and arrange their products, businesses can keep them in warehouses safely and securely.

A warehouse is a type of commercial building used to store goods, and warehousing is the practice of correctly processing and storing goods inside of warehouses using scientific methods so that they are quickly and easily available when needed.

Thus, option C is correct.

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Luke, an HR manager at Ford, argues that health insurance should cost more for smokers or overweight people. Those are personal choices and we shouldn’t all pay more fees to cover their cost. Matthew says no. Other people have less obvious health risks. We should hang together, instead of dividing up the insurance pool. What principles might cause them to disagree?

Answers

Answer:

Luke is probably a libertarian who is a staunch defender of individual rights but also of individual responsibility. For this reason, he thinks that people who are not responsible with their own bodies and either smoke, or get overweight, should pay more for health insurance, because their medical treatment are likely to be more costly.

Matthew is probably a progressive liberal, or a social democrat. He believes that the greater good of society is more important than personal responsibility. He thinks that overweight people or smokers should have a right to health insurance regardless of the state of their bodies.

How do I find the first four terms?

Answers

Answer: 300, 350, 400, 450

Explanation:

a1 = first term = 300

d = common difference = 50

2nd term = a+d

= 300 + 50

= 350

3rd term = a + 2d

= 300 + 2(50)

= 300 + 100

= 400

4th term = a + 3d

= 300 + 3(50)

= 300 + 150

= 450

Therefore, the first four terms are 300, 350, 400, and 450.

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