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.
For the 2014 tax year, the estate tax exclusion amount is $5.34 million. It increases to $5.43 million for 2015. ATRA also increased the tax rate on estates in excess of the exemption amount from 35 percent to 40 percent. The new estate tax law, however, does offer permanent portability between spouses.n addition to the annual exclusion amounts, you also can give the following without triggering the gift tax: 1  Charitable gifts. 2  Gifts to a spouse. 3  Gifts to a political organization for its use. 4  Gifts of educational expenses.