Most Commentators Believe the Annual Exclusion Amount from Estate Tax

question 105

Multiple Choice

Most commentators believe the annual exclusion amount from estate tax will be set at $3,500,000 for 2013.

• A) $500,000
• B) $1,000,000
• C) $2,000,000
• D) $3,500,000
• E) $5,000,000

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Definitions:

Employee Benefits

Non-wage compensation provided to employees in addition to their normal wages or salaries, including health insurance, pensions, and vacation.

Unemployment Taxes

Taxes imposed on employers at both federal and state levels to fund unemployment insurance benefits for workers who have lost their jobs.

Working Capital

The difference between a company's current assets and current liabilities, indicating the funds available for day-to-day operations.

Note Payable

A written promise to pay a specific sum of money to a creditor at a future date under specified terms.