Which of the statements describes a medium-term financial goal? On his last day of school, Michael sat down with his favorite professor to chalk out a personal financial for himself. He wanted to get started in life as soon as possible and he went to set goals that he could direct himself to achieve. He already knew that he wanted to buy a house on his own at some point. He wanted to save enough money for this. Once he decided on this target, his professor suggested that he look for good college for further studies. They pointed out to him that he could possibly get a student loan for this. They said that once he is done with his studies, he could pay off the loan. His professor advised him, that he should keep an eye on retiring with the adequate luxuries. For this, they suggested that he think of a pertinent retirement plan for himself. Michael wrote down all the suggestions in his notepad. He also wrote down 'car, which he decided he would require to travel to college

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate. the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received. c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.