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What is the maximum amount that Carol may deduct

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a. In January of 2019, Carol Brady is trying to decide if she should purchase a new vehicle for her business, We Are Brady, Inc. Carol has asked you to calculate the amount of depreciation that she will be able to deduct for the following vehicle that she is considering purchasing. Assume that she will purchase the vehicle in August 2019 and assume that no other assets will be purchased in 2019.

If Carol purchases a new Porsche for $164,000, what is the maximum depreciation amount that Carol may deduct in 2019? Carol plans to drive the Porsche 78% of the time for business. Carol elects to take the additional first-year depreciation.

b. If Carol, in April 2020, purchases a Ford Explorer (an SUV with GVW > 6,000 pounds and < 14,000 pounds) for $63,750, what is the maximum amount that Carol may deduct in 2020? Carol plans to drive the Explorer 100% of the time for business. Assume that no other assets will be purchased in 2020. Carol elects not to take the additional first-year depreciation!

Reference no: EM132732116

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