What is the gift tax annual exclusion and why was it enacted?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
The annual gift tax exclusion of 14...View the full answer
Answered By
Muhammad Ahtsham Shabbir
I am a professional freelance writer with more than 7 years’ experience in academic writing. I have a Bachelor`s Degree in Commerce and Master's Degree in Computer Science. I can provide my services in various subjects.
I have professional excellent skills in Microsoft ® Office packages such as Microsoft ® Word, Microsoft ® Excel, and Microsoft ® PowerPoint. Moreover, I have excellent research skills and outstanding analytical and critical thinking skills; a combination that I apply in every paper I handle.
I am conversant with the various citation styles, among them; APA, MLA, Chicago, Havard, and AMA. I also strive to deliver the best to my clients and in a timely manner.My work is always 100% original. I honestly understand the concern of plagiarism and its consequences. As such, I ensure that I check the assignment for any plagiarism before submission.
4.80+
392+ Reviews
587+ Question Solved
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Question Posted:
Students also viewed these Corporate Finance questions
-
In 2013, you gave a $14,000 cash gift to your best friend. What is the gift tax?
-
What is a gift, and when is a gift made? Describe the following terms as they relate to federal gift taxes: (a) Annual exclusion (b) Gift splitting (c) Charitable deduction (d) Marital deduction.
-
Carolyn has made no previous taxable gifts. Determine her gift tax if she makes $2,650,000 in taxable gifts in the current year after each donees annual exclusions but before her lifetime exclusion.
-
A company had a broken printer which they deemed was not worth fixing and thus discarded it. The original cost of the printer was $7,500 and the accumulated depreciation at the time of disposal was...
-
A diffuser, shown in Fig. P6.36, has air entering at 100 kPa, 300 K, with a velocity of 200 m/s. The inlet cross-sectional area of the diffuser is 100 mm2. At the exit, the area is 860 mm2, and the...
-
The researchers included the independent variables that were significantly associated with the outcomes variables in the univariate analysis in their multiple regression analysis. They kept those...
-
Why is the range value affected by outliers?
-
The College Board provided comparisons of Scholastic Aptitude Test (SAT) scores based on the highest level of education attained by the test takers parents. A research hypothesis was that students...
-
Tiago makes three models of camera lens. Its product mix and contribution margin per unit follow: Lens A Lens B Lens C Required: Percentage of Unit Sales 30% 37 33 Contribution Margin per Unit $ 45...
-
Wayne's Steaks, Inc., has a 9 percent, noncallable, $100-par-value preferred stock issue outstanding. On January 1 the market price per share is $73. Dividends are paid annually on December 31. If...
-
Sharon transferred property into an irrevocable trust, but she retained the right to change the beneficiaries. What circumstances are required for this transfer to be a completed gift?
-
What purpose is served by the distributable net income of a trust or estate?
-
Indexed bonds and inflation uncertainty In Chapter 14, in a Focus Box titled "The Vocabulary of Bond Markets," the concept of an inflation-indexed bond was introduced. Although such bonds are...
-
What will be the moment of inertia of a homogeneous triangular board of mass m with side lengths a and b when rotated about the axis passing through side a? mb mb mb mb (a) (b) 2mb 3 (c) (e) 3 12 2 6...
-
10. A ray of light falls on a horizontal plane mirror as shown. 40 In order to reflect the light ray vertically upwards, the plane mirror should be rotated by A. 20 B. 25 C. 40 D. 50
-
You are at a funhouse at Hershey Park. The ride you are on is a huge spinning platform.Suppose you move towards the outside edge of the spinning platform. What would happen to the angular momentum of...
-
A tennis ball is tossed straight up into the air. In addition to the force of gravity, the tennis ball is subject to a frictional force due to air friction. The time the tennis ball takes to reach...
-
The capacitor in the circuit is charged to 20 V at the time the switch is closed. (Figure 1) Figure 20 V C 1 0 12 x 10 i 20 1 of 1 80 www Part A If the capacitor ruptures when its terminal voltage...
-
For each polynomial function, (a) list all possible rational zeros, (b) find all rational zeros, and (c) factor (x) into linear factors. (x) = x 3 + 5x 2 + 2x - 8
-
For the following exercises, find the inverse of the function and graph both the function and its inverse. f(x) = 4 x 2 , x 0
-
What are the primary uses of the employee earnings record?
-
(a). Identify the three types of employer payroll taxes. (b). How are tax liability accounts and payroll tax expense accounts classified in the financial statements?
-
You are a newly hired accountant with Batista Company. On your first day, the controller asks you to identify the main internal control objectives related to payroll accounting. How would you respond?
-
Building and construction projects must comply with environmental requirements. Identify the legislation that relates to the environmental Acts for New South Wales.
-
make a program that does the following: 1) give an example of an abstract class named SpaceShip . It will include: - a data member named numEngines of type int - a data member named name of type...
-
Consider the following function over the given interval. f(x) = 16x2, [-4,4] b Evaluate the integral, f(x) dx. 256 3 Find the average value of the function over the given interval. (Round your answer...
Study smarter with the SolutionInn App