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Question - John and Mary were divorced in 2006. Pursuant to the divorce decree John received the home, and Mary was paid 1/2 of the equity in the home in the amount of $60,000. The divorce decree required John to pay Mary the $60,000 in the year the divorce became final (2006). Due to severe financial problems, John was unable to pay in the year 2006. Mary put a lien against the home for her $60,000. He finally paid her off in 2009. John sold the home this year. The basis of the home in 2006 was $200,000, and there were no capital improvements from 2006. He sold the home for $400,000. Disregarding any provisions related to the exclusion of the gain on the sale of a personal residence, what is his taxable gain from the sale of this home?
The price per metric ton of white sand dipped to P590. On December 31, 2021, the white sand retails at P605 per matric ton. How much is the gain recorded
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During the Great Recession, many employees avoided asking for work/life benefits because they wanted to appear completely dedicated to the company. To what extent do you think their concerns were justified?
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