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1 discuss why congress limits the amount of depreciation expense businesses may claim on certain automobiles2
1 describe assets that are considered to be listed property why do you think the internal revenue service requires
1 what strategies will help a business maximize its current depreciation deductions including 179 why might a
1 discuss why a small business might be able to deduct a greater percentage of the assets it places in service during
1 if a taxpayer has owned a building for 10 years and decides that it should make significant improvements to the
1 there are two recovery period classifications for real property what reasons might congress have to allow
a business buys two identical tangible personal property assets for the same identical price it buys one at the
1 compare and contrast the recovery periods used by macrs and those used under generally accepted accounting
1 what depreciation methods are available for tangible personal property explain the characteristics of a business
1 macrs depreciation requires the use of a recovery period method and con- vention to depreciate tangible personal
bryan followed in his fathers footsteps and entered into the carpet business he owns and operates i do carpet idc bryan
rex loves to work with his hands and is very good at making small figurines three years ago rex opened bronze age
nancy operates a business that uses the accrual method of accounting in december nancy asked her brother hank to
dustin has a contract to provide services to dado enterprises in november of year 0 dustin billed dado 10000 for the
this year william provided 4200 of services to a large client on credit unfor- tunately this client has recently
adam elects the accrual method of accounting for his business what amount of deductions does adam recognize in year 0
travis is a professional landscaper he provides his clients with a one-year 12-month warranty for retaining walls he
this year year 0 elizabeth agreed to a three-year service contract with an engi- neering consulting firm to improve
circuit corporation cc is a calendar-year accrual-method taxpayer cc manufactures and sells electronic circuitry on
suppose that david adopted the last-in first-out lifo inventory-flow method for his business inventory of widgets
this year amber opened a factory to process and package landscape mulch at the end of the year ambers accountant
nicoles business uses the accrual method of accounting and accounts for inventory with specific identification in year
in october of year 0 janine received a 6000 payment from a client for 25 months of security services she will provide
ben teaches golf lessons at a country club under a business called bens pure swings bps he operates this business as a
jeremy is a calendar-year taxpayer who sometimes leases his business equipment to local organizations he recorded the