Taxpayer A is a building contractor. In order to help his son to start his own business,
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Taxpayer A is a building contractor. In order to help his son to start his own business, he gives him two used trucks and a crane. What will be the tax consequences? Would the situation be different if taxpayer B ceased his business and gave all the assets to his daughter?
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The tax consequences of giving assets to family members such as in the scenarios you described can vary depending on several factors including the tax ...View the full answer
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Related Book For
Value Added Tax A Comparative Approach
ISBN: 9780521616560
1st Edition
Authors: Alan Schenk, Oliver Oldman
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