Question
Briefly answer the following questions. 1. Describe the History of Federal taxation in the United States 2. Compare and Contrast Excise tax and Sales tax.
Briefly answer the following questions.
1. Describe the History of Federal taxation in the United States
2. Compare and Contrast Excise tax and Sales tax.
3. Discuss ad valoram taxes: real estate tax and personal property tax.
4. Discuss regressive taxes and progressive taxes
Your Client Bella Barnes is thinking of giving annual gifts to her children. She has asked for your tax advice. Draft a memo covering the basics of Gift and estate tax. Include the following points:
The Gift and Estate tax function as one tax.
Donors and estates are responsible for gift/estate taxes.
The annual exclusion for 2021
The lifetime exclusion in 2021
The maximum Tax rate.
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
111950242X, 1-119-50242-5, 978-1119502425
