Question

What is the difference between an estate tax and a gift tax?

Answer 1

Estate tax is money or property from a person who has died. Gift tax is money or property that is given from a living person.

Answer 2

1. C. The U.S Constitution

2. B. The tax is fairly assessed

3. B. An estate tax is a tax on the money and property of someone who has died; a gift tax is a tax on money or property given from one living person to another

4. C. 47%

5. A. The higher the income a person has, the higher the percentage that person pays in tax