Determine lori total deduction

Assignment Help Accounting Basics
Reference no: EM131794393

Question - Lori, who is single, purchased five-year class property for 150,00 and seven-year class property for $400,000 Mat 20, 2011. Lori expects the taxable incomes derived from her business (without regard to the amount expensed under § 179) to be about $800,000. Lori wants to elect immediate §179 expensing, but she doesn't know which asset she should expense under §179. She elects not to take additional first-year depreciation.

a. Determine Lori's total deduction if the §179 expense is first taken with respect to the five-year class asset.

b. Determine Lori's total deduction if the §179 expense is first taken with respect to the five-year class asset.

c. What is your advice to Lori?

Reference no: EM131794393

Questions Cloud

Study their inventory and make recommendations : Toledo Grocers is planning to hire an expert (like you) to study their inventory and make recommendations.
Problem on the operating leverage : How does operating leverage simultaneously potentially increase the rate of return to common stockholders? Based on this, what would be a good rule of thumb.
Locate the regulation that deals with the given situation : Locate the regulation that deals with this situation. Give the regulation's citation and when the regulation was finalized.
How consumers perceive the performance of company service : Which of the following principles requires that managers clearly understand how consumers perceive the performance of the company's services?
Determine lori total deduction : Determine Lori's total deduction if the §179 expense is first taken with respect to the five-year class asset. What is your advice to Lori
Determine the cost recovery for the current year : Determine the cost recovery for the current year. Debra does not elect immediate expensing under S179.She elect not to take additional first year depreciation
Calculate the mean free path of a particle in the gas phase : Assume that in each case the molecular collisional diameter is 0.4 nm, the source-to-substrate distance is 5 cm.
What is the weighted cost of capital for kjwe : Owen Industries has a capital structure of 40% debt and 60% equity. KJWE is considering a project that requires an investment of $2.6 million.
How much can myc expect to earn from the city during : How much can MYC expect to earn from the city during the fourth quarter and How much can MYC expect to collect from the city during the fourth quarter

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd