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Question		Answer
Direct investment start learning		you own title to property you purchased
Commercial property start learning		land and buildings that produce rental income
Indirect investment start learning		an investment in which a trustee is appointed to hold legal title to the property
Syndicate start learning		temporary association of individuals or business firm organized to perform a task that requires a large amount of money
Participation certificate start learning		an investment in a group of mortgages that have been purchased by a government agency
Financial leverage start learning		this is the use of borrowed money for direct investment purposes
Precious metals start learning		gold platinum siler
Precious gems start learning		mineral deposits that are dug from the earth by miners and cut and shaped into jewels
Collectibles start learning		people for investments that collect things, includes rare coins, works of art, antiques, stamps, comic books, sports memorabilia
Tax liability start learning		total amount of taxes owed
Estate tax start learning		this is a federal tax collected on the value of a person’s property at the time of their death
Inheritance tax start learning		state tax collected on the property left by a person to his heirs in a will
Income tax start learning		tax on wages, salaries, and self employed earnings
Income tax return start learning		form that which a taxpayer reports how much money they’ve received from working and other sources
Exclusion start learning		income that is not subject to taxes
Adjusted gross income start learning		gross income after calculating certain reductions
Taxable income start learning		adjusted gross income minus any allowable tax deductions and exemptions
Tax deduction start learning		expense that you can subtract from your adjusted gross income to figure your taxable income
Standard deduction start learning		amount of money set by the irs that is not taxed
Itemized deduction start learning		specific expense (such as a medical expense) that you can deduct
Exemption start learning		deduction from the adjusted gross income for the taxpayer spouse and qualified dependents
Tax credit start learning		amount of money that can be subtracted from the taxes you owe
Allowance start learning		withheld from your paycheck based on your marital status and dependents
Extension start learning		extended deadline for filing your tax return
Tax audit start learning		detailed examination of your tax return by the IRS

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