There Are Several Guidelines for Developing an Appraisal Process That

question 103

Essay

There are several guidelines for developing an appraisal process that is legally defensible. Identify four of these guidelines.

---

Definitions:

Standard Deduction

A fixed dollar amount that reduces the income you're taxed on, varying by filing status and adjusted annually for inflation, available to all taxpayers who do not itemize their deductions.

Head of Household

A filing status for individuals who are unmarried and pay more than half of the costs of keeping up a home for themselves and a qualifying individual.

Dependency Exemption

A tax deduction for taxpayers who support dependents, significantly reduced with the Tax Cuts and Jobs Act of 2017.

Support

In tax terms, support refers to the financial assistance provided for the maintenance of a person, often considered in dependency exemptions.