What is the amount of total taxable gifts

Assignment Help Financial Management

Reference no: EM131059066

Lance has two adult children from a previous marriage. He has gifted them money for the past three years and his wife has consented to split the gifts each year. Lance made gifts to his children as follows: 2013: Gifts of $60,000 to each child 2014: Gifts of $40,000 to each child 2015: Gifts of $50,000 to each child What is the amount of Lance's total taxable gifts? A. $0 B. $66,000 C. $150,000 D. $300,000

Reference no: EM131059066

Questions Cloud

Maximum allowable discounted payback period : Compute the discounted payback statistic for Project C if the appropriate cost of capital is 6 percent and the maximum allowable discounted payback period is three years. Discounted payback period years Should the project be accepted or rejected? Rej..

Failure to make wage adjustment consistent : Does the company’s failure to make a wage adjustment consistent with past practice on July 1, 2002 constitute a violation of the employer’s duty to bargain in good faith? Explain your reasoning. If an employer were found guilty of bad-faith bargainin..

What is the after tax salvage value : Your firm needs a machine which costs $260,000, and requires $41,000 in maintenance for each year of its 5 year life. After 3 years, this machine will be replaced. The machine falls into the MACRS 5-year class life category. Assume a tax rate of 30% ..

Correlation coefficient between the returns of two stocks : The covariance of the returns between Willow Sock and Sky Diamond Stock is 0.0790. The variance of Willow is 0.1860, and the variance of Sky Diamond is 0.1460. What is the correlation coefficient between the returns of the two stocks?

What is the amount of total taxable gifts : Lance has two adult children from a previous marriage. He has gifted them money for the past three years and his wife has consented to split the gifts each year. Lance made gifts to his children as follows: 2013: Gifts of $60,000 to each child 2014: ..

What was the consequence of this reverse gift : Lois gifted stock to her dying husband, Bradley, worth $500,000. Her basis in this stock was $200,000. Bradley's Will bequeathed all of his property to Lois. Assume Bradley died two years after receiving the stock. What was the consequence of this re..

Evaluate the proposed acquisition of new special-cash flows : You have been asked by the president of your company to evaluate the proposed acquisition of a new special-purpose truck for $60,000. The truck falls into the MACRS 3-year class, and it will be sold after three years for $20,300. What will the cash f..

What is the approximate real rate of interest : Treasury bills are currently paying 9 percent and the inflation rate is 2.90 percent. What is the approximate real rate of interest? (Round your answer to 2 decimal places. (e.g., 32.16)) Approximate real rate % What is the exact real rate?

What is the effective annual yield : Martin Software has 9.4 percent coupon bonds on the market with 19 years to maturity. The bonds make semiannual payments and currently sell for 107.5 percent of par. What is the current yield on the bonds? What is the effective annual yield?

User Account

All Pages