Regarding buyer and seller credits and debits, a seller is charged for taxes from january 1st through closing. who pays for the actual day of closing?

Respuesta :

A seller is charged for taxes from January 1st through closing, then the seller is only going to pay for the actual day of closing.

What are taxes?

Tax is a mandatory cost and service or another sort of levy that is placed on taxpayers by an official agency that is established to pay for the development of the country and also for getting revenue.

As the accounts are being closed for the year then this means that there will be some type of credit that will be left on the buyers as well as sellers, and on an opening day, it will be charged.

Learn more about taxes, here:

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