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.
Annual Exclusion. The annual gift tax exclusion lets any individual -- your parent, you, your child -- give up to $13,000 a year, as of 2012, to any other person without paying tax. That limit applies per person, per year -- your father could give you $13,000, your sister $13,000 and his best friend $13,000 and still not pay gift tax. Married couples get double the tax break: Your father and mother can give you $26,000 and pay no tax.