All categories

3 years ago

If someone give gift to his wife of 255000 how much is taxable

Business

2 answers:

padilas [110]3 years ago

8 0

I do believe that gifts to a spouse are exempt from any gift tax. So $0 is taxable.

irakobra [83]3 years ago

8 0

Whether of the same sex or the opposite sex, there is an UNLIMITED amount of gifts a spouse can give to the other without there being a gift tax. So you can gift ANY amount and there will no be tax. However, the gift is still taxable beyond the $15,000 annual exclusion. $255,000 - $15,000 = $240,000.

Therefore, the giver gave $240,000 in taxable gifts and pays $0 gift taxes.

You might be interested in

Consider two communities. In Mill Town, two families earn $10000 each, six families earn $75,000 each, and two earn $80,000 each

Nezavi [6.7K]

Answer:

a. The income inequality ratio in Mill Town is 14.06%.

b. The income inequality ratio in Pasture Town is 11.77%

c. Mill Town therefore has the more unequal distribution of income

Explanation:

Note: Kindly see the attached file for the calculation of the standard deviation and the mean.

The income equality can be determined using the Coefficient of variation (CV) for stated as follows:

IE = SD ÷ Mean ........................................... (1)

Where,

IE = Income inequality

SD = Standard deviation

In more equal societies, IE will be smaller.

We can therefore proceed as follows:

a. What is the income inequality ratio in Mill Town?

SD = 8,857

Mean = 63,000

IE = 8,857 ÷ 63,000 = 0.1406, or 14.06%

b. What is the income inequality ratio in Pasture Town?

SD = 8,353

Mean = 71,000

IE = 8,353 ÷ 71,000 = 0.1177, or 11.77%

c. Which community has the more unequal distribution of income?

Since the 14.06% income inequality ratio of Mill Town is higher than 11.77% income inequality of Pasture Town, Mill Town therefore has the more unequal distribution of income.

Download xlsx

4 0

3 years ago

Which of the following would LEAST likely foster diversity in the workplace?

guajiro [1.7K]

Answer:

The correct answer is letter "A": changing the culture through diversity training education programs.

Explanation:

Boosting diversity at the workplace is an activity that mainly relies on the representatives of the Human Resources (HR) Department. They are in charge of recruiting and selecting the applicants that will be part of the institution based on their capabilities and expertise. Thus, HR representatives could promote the selection of different individuals from different ages, races, gender, ethnicity, and nationality, without preferring one or another, so the working environment will be diversified and the company can take advantage of the different backgrounds of those new hires.

Therefore, <em>training other employees could improve the understanding of other employees on dealing with workers different than them but this does not foster diversity in the workplace.</em>

6 0

3 years ago

To generate ideas for new products, some firms will purchase the rights to use another firm's technology. This is known as\

yKpoI14uk [10]

The purchase of the rights to use another firm's technology in the scenario is known as outsourcing.

<h3>What is outsourcing?</h3>

It should be noted that outsourcing simply means the agreement in which a company hires another company in order to be responsible for certain activities.

In this case, this experienced when the firms purchase the rights to use another firm's technology.

Learn more about outsourcing on:

brainly.com/question/4456416

5 0

3 years ago

Wilma, who lives in New York, enters into a contract to buy a painting from Fred, who lives in France. The contract includes all

Shtirlitz [24]

Answer:

A court will most likely;

1. Allows the parties to rescind the contract.

Explanation:

The contract includes all the costs of insuring and shipping the painting from France to New York.

Since, the agent that made the shipping estimate makes a mistake when adding up the costs and, as a result, the shipping cost listed in the contract is $1,000 less than the actual shipping costs. A court will most likely allow the parties to rescind the contract because a part of the contract agreement has been breached in error.

7 0

3 years ago

Read 2 more answers

Which country parades first during the olympics opening ceremony

Zarrin [17]

Answer:

<h2>Greece</h2><h2>Explanation:</h2>

hope it helps u :)

3 0

3 years ago

Read 2 more answers