Which of the following is an advantage of giving gifts?
A. Gifts avoid depreciation in value.
B. Gift tax exclusion attracts more estate tax.
C. Marital deduction allows gifts to be tax free.
D. The annual inclusion amount increases with gifts.
E. There is no tax exemption for charitable contributions.
Answer: C
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Which of the following is not a synonym of the others?
a. column b. attribute c. field d. tuple
When stocks are held in street name,
A. the investor receives a stock certificate with the owner's street address. B. the investor receives a stock certificate without the owner's street address. C. the investor does not receive a stock certificate. D. the broker holds the stock in the brokerage firm's name on behalf of the client. E. the investor does not receive a stock certificate, and the broker holds the stock in the brokerage firm's name on behalf of the client.
Melody and Todd are married and have employee wages of $250,000 each in 2016 . They have no other income. How much additional 0.9% Medicare surtax will Melody and Todd have to pay or receive as a refund when they file their 2016 income tax return?
a. $1,350 will be due with their return in addition to amounts withheld. b. $1,350 will be refunded with their return. c. $900 will be refunded with their return. d. $3,600 will be due with their return in addition to amounts withheld.
Walmart grants credit to consumers who purchase for personal or family use. This type of credit is called
A. trade credit. B. personal credit. C. open credit. D. consumer credit.