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.
The date of the month that you were born leads to an important exception to this. Legal precedent states that people attain their age on the day before their birthday. Thus, benefits are not paid for the month you reach age 62 unless your birthday is on the first or second day of the month. Based on this precedent, reaching age 62 on either the first or second day of the month makes you at least age 62 throughout the entire month. As a result, benefits are payable for the month.