Estate and gift tax laws
Given the certainty that there will changes to the estate and gift tax laws, discuss the pros and cons of the changes in the 2010 Tax Relief Act, and your thoughts on whether such changes should be considered in future legislation.
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On Jan 1, 2010, Morgan Company acquires 300,000 of Nicklaus, Inc, 9% bonds at 278,384. the interest is payable each December 31, and the bonds mature Dec 31, 2012. the investment will provide Morgan Company a 12% yield. The bonds are classified as
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