Taylor, a widow, makes cash gifts to her five children and to her seven grandchildren. What is the maximum amount Taylor can give to them in a single year without being subject to the Federal Gift Tax?

a. $15,000

b. $75,000

c. $105,000

d. $180,000

Which of the following is true in regards to sales taxes, real estate property taxes, and personal property taxes?

a. None of these taxes are imposed by the Federal Government.

b. Sales taxes are imposed by the Federal Government

c. Property taxes are imposed by the Federal Government

d. Sales taxes, real estate property taxes, and personal property taxes are imposed by the Federal Government.

Which of the following is true in regards to an Excise Tax:

a. An Excise Tax is imposed only on internet purchases.

b. An Excise Tax is only imposed by the Federal Government, and cannot be imposed by a State Government.

c. An Excise Tax is restricted to be imposed only on specific items.

d. The Excise Tax imposed is based on the income of the purchaser.