Your tax liability on gift amounts above your annual exclusion or your lifetime ceiling can be reduced by using the unified credit. It's called unified because it is one amount that can be applied against gift or estate taxes. For 2011, the unified credit was $1,730,000 per taxpayer in their lifetime.
Your legal birth date would be 1st March. You would still be 17 on 28th February-just as you would if it was a leap year. Therefore when 29th is skipped, your legal birthday falls on the next day after your last day of being 17. Also yes you can enter a bar at midnight, because once the clock turns to 12am, the day has changed. :). Aidan H Â· 4 years ago.
However, an exception is made for the birth of your child. You can claim your baby as a dependent for the tax year as long as the baby was born in that tax year. For example, you could claim your baby on your taxes for 2015 and subsequent years if she was born on Dec. 31, 2015. However, if the baby was born on Jan. 1, 2016 or after, you could only claim her for the 2016 tax year and beyond. In order to claim your baby as a dependent, she needs to have a Social Security number.