Sec 79 personal property deduction

Assignment Help Accounting Basics
Reference no: EM1358930

Tommy purchases and places in service in 2011 personal property costing $900,000. What is the maximum Sec. 179 deduction that Tommy can deduct, ignoring any taxable income limitation?

A. $0

B. $128,000

C. $500,000

D. $900,000

Reference no: EM1358930

Questions Cloud

Non-recurring expenses on income statement : When normalizing operating results, non-recurring expenses that are reported within SG&A, CGS or other expense line items on a company's income statement:
Strategies and interventions : Identify the goals of the group, as well as strategies and interventions you would likely use; and note the legal and/or ethical considerations you would have to address.
Convention related costs : The director of marketing for Eastern Computer Corporation, Callie Keller, had the following discussion with the company controller, Isaiah Johnson, on July 26 of the current year: Callie: Isaiah, it looks like I'm going to spend much less than indic..
Positive factors and undermining factors : Interviews: Positive Factors, Undermining Factors - What are some factors that can make for a good/effective interview?
Sec 79 personal property deduction : Tommy purchases and places in service in 2011 personal property costing $900,000. What is the maximum Sec. 179 deduction that Tommy can deduct, ignoring any taxable income limitation?
Draw a gui to create objects : Draw a GUI that will create the objects and provide access to each object's processing methods. Use the drawing tool in Microsoft Word.
What is the childs total mechanical energy : A 25 kg child on a 2.0 m swing is released from rest when the swing supports make the angle of 30.0 degrees with the vertical.
Adapting organizational development interventions : How would you describe how OD (organizational development practitioner) interventions need to be adapted to fit different cultural contexts.
Introduction of implicit learning : Implicit learning is described as acquiring knowledge through exposure; learning about things unintentionally and indirectly.

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