/ˈæn.ju.əl ɪkˈskluː.ʒən/ – Phrase
Definition: Sự loại trừ hàng năm.
A more thorough explanation: the maximum amount of money, property, or other assets that a person is allowed to give another person each year as a gift without having to pay US federal gift tax
Example: There are gift tax implications for large gifts above the annual exclusion amount, which for 2014 is $14,000 per person.