Examlex
Noah dies in 2012 with an estate worth $12 million.Under his will, $6 million passes to his wife while $6 million goes to his church.What is Noah's Federal estate tax result?
Modified Accelerated Cost Recovery
A tax depreciation system in the United States that allows the accelerated write-off of property under certain categories for tax purposes.
Tax Act of 1989
Legislation enacted to amend, revise, or change the tax laws existing at that time, specific to a given jurisdiction.
Depreciation Method
A methodical strategy for distributing the expense of a physical asset across its lifespan.
Straight-line Method
A method of allocating an asset's cost evenly over its useful life for the purposes of calculating depreciation.
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