Discuss the probable justification for each of the following aspects of the tax law. Be...

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Accounting

Discuss the probable justification for each of the following aspects of the tax law. Be sure to use concepts and terminology covered in this chapter (Hint: Review LO 7 & 8).

The income-splitting benefits of filing a tax return.

Deductions for interest on home mortgage and property taxes on a personal residence.

Prepaid income is taxed to the recipient in the year received and not in the year earned

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