A homeowner fears the construction of a factory nearby will decrease the value of her property. this illustrates the principle of externalities.
Many people are unaware that there are tax advantages for home owners when they purchase, own, remodel and even sell their property. These advantages take the form of tax deductions, which lower your taxable income and hence lower your tax payment.
However, you might be astonished to hear that even though the house was bought with a mortgage, you still own it. As the homeowner, your name is listed on the title. The lender does not actually own your home; rather, they only have a stake in the property and the mortgage note.
According to the Federal Reserve's 2020 Survey of Consumer Finances, if you own your home, you probably have a higher value than someone who rents. The assumption that owning a home is a wise financial decision is supported by the fact that homeowners have a net worth that is more than 40 times bigger than their counterparts who rent.
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Answer:
Monetary Contribution
Explanation:
Parent-child relationship refers to the way the parents nurture the social, physiological, and psychological development of the children.
Monetary contribution implied that in order for parents to give love and care to the children, the children need to provide the parents with a certain amount of money in return.
The type of care and attention that parents give to their children tend to be voluntary. It's purely based on unconditional love and affection. This is why we don't consider monetary contribution as a factor that influence parent-child relationship.
The first advice I would give Mr. Peterson would be to formalize the transfer. So the first step in this situation would be to contact a good lawyer to see if the transfer of business to your child would be authorized. This is because the transfer of LLCs has rules that may differ from one location to another.