Absorption costing, which is also known as full absorption costing or full costing, is a method for accumulating fixed and variable costs associated with the production process and apportioning them to individual products.Thus, a product must absorb a broad range of costs.The key costs assigned to products are:bsorption costing, which is also known as full absorption costing or full costing, is a method for accumulating fixed and variable costs associated with the production process and apportioning them to individual products. Thus, a product must absorb a broad range of costs. The key costs assigned to products are:
The Annual Gift Tax Exclusion. The annual gift tax exclusion was indexed for inflation as part of the Tax Relief Act of 1997, so the amount increased in subsequent years to keep pace with the economy. Below is a chart that shows the increases in the annual exclusion from 1997 through 2015.
Exclusions. The entire $50,000 you give isn't vulnerable to taxation. The IRS allows exclusions, a dollar limit you can give away tax-free. As of the 2012 tax year, the exclusion amount is $13,000 for each person you make a gift to.If you're married, you can double that: you and your spouse are each entitled to give away $13,000 per person.Therefore, if you gave your niece a $50,000 gift and you're single, you'd only have to be concerned about paying a gift tax on $37,000, because the first $13,000 is immune.he IRS allows exclusions, a dollar limit you can give away tax-free. As of the 2012 tax year, the exclusion amount is $13,000 for each person you make a gift to.