Michael is the sole proprietor of a small business. In June 2 0 2 1 , his

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Question:

Michael is the sole proprietor of a small business. In June

2021,

his business income is $

12, 000

before consideration of any

179

deduction. He spends $

245, 000

on furniture and equipment in

2021 .

If Michael elects to take the

179

deduction and no bonus on a conference table that cost $

25, 000 (

included in the $

245, 000

total

),

determine the maximum cost recovery for

2021

Related Book For answer-question

Fundamentals Of Taxation 2015

ISBN: 9781259293092

8th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Posted Date: May 08, 2024 05:20 AM

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Michael is the sole proprietor of a small business. In June 2 0 2 1 , his

Question:

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To determine the maximum cost recovery for 2021 we f... View the full answer

Fundamentals Of Taxation 2015

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