Deferring Income to a Subsequent Year Is Considered to Be

question 63

True/False

Deferring income to a subsequent year is considered to be tax avoidance.

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Definitions:

Adverse

Unfavorable or harmful conditions or circumstances that can negatively affect or pose challenges to individuals or entities.

Necessity

A term that can refer to a state of being required or indispensable, or, in legal terms, a defense that asserts an act was done out of a need to prevent a greater harm.

Grant Deeds

A legal document used to transfer ownership of real property from the seller (grantor) to the buyer (grantee).

Bargain and Sell

A term used in real estate and contract law to refer to a type of conveyance or transfer of property ownership, often without the formalities of a traditional sale.