David and Rebecca have been talking about getting married. In June 2014, David pops the qu
David and Rebecca have been talking about getting married. In June 2014, David
pops the question and gives Rebecca a $30,000 engagement ring. They marry in October
of 2015 at which time David transfers $100,000 into Rebecca’s checking account. What
is the value of David’s marital deduction for gift tax purposes in year 2015?
A. $ 14,000
B. $ 86,000
C. $ 100,000
D. $ 116,000
Bill and Joanne Ames have a child, John, who has Autism. John has never worked
and his parents have asked your assistance in applying for social security benefits now
that John has turned 18 years old. For income purposes you tell them to apply for which
of the following programs?
C. Supplemental Security Income (SSI)- Title XVI
D. Social Security Retirement Benefits (SSA)- Title II, 42 U.S.C. Sec 402 to 431