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II. Your Client Bella Bames is thinking of giving annual gifts...

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Accounting

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II. Your Client Bella Bames is thinking of giving annual gifts to her children. She has asked for your tax advice. Draft a one page memo covering the basics of Gift and estate tax.Include the following points: - The Gift and Estate tax function as one tax. - Donors and estates are responsible for giftlestate taxes. - The annual exclusion for 2023 - The lifetime exclusion in 2023 - The maximum Tax rate

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