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Author Question: During the year 2016, a calendar year taxpayer, Marvelous Munchies, a chain of specialty food shops, ... (Read 80 times)

tfester

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Question 1

Bert, a self-employed attorney, is considering either purchasing or leasing a $50,000 automobile for use in his business. What are the issues he should consider in making his decision?

Question 2

During the year 2016, a calendar year taxpayer, Marvelous Munchies, a chain of specialty food shops, purchased equipment as follows:



Assume the property is all 5-year property, but does not qualify for bonus depreciation.  What is the maximum depreciation that may be deducted for the assets this year, 2016, assuming the alternative depreciation system is not chosen?


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Marked as best answer by tfester on Sep 13, 2020

tmlewis4706

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tfester

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Reply 2 on: Sep 13, 2020
Gracias!


mcabuhat

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Reply 3 on: Yesterday
Excellent

 

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