taxation

Project Description:

lori, who is single, purchased five-year class property for $150,000 and seven-year class property for $400,000 on may 20, 2011. lori expects the taxable income derived from her business (without regard to the amount expensed under s179) to be about $800,000. lori wants to elect immediate s179 expensing, but she doesn’t know which asset she should expense under s179 . she elects not to take additional first-year depreciation.

a. determine lori’s total deduction if the s179 expense is first taken with respect to the five-year class asset,
b. determine lori’s total deduction if the s179 expense is first taken with respect to the seven-year class asset.
c. what is your advice to lori?
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Price Type: Negotiable

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