John Johnson is considering acquiring an automobile at the beginning of 2014 that he will use 100%
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John Johnson is considering acquiring an automobile at the beginning of 2014 that he will use 100% of the time as a taxi. The purchase price of the automobile is $35,000. John has heard of cost recovery limits on automobiles and wants to know the maximum amount of the $35,000 he can deduct in the first year.
Write a letter to John in which you present your calculations. Also prepare a memo for the tax files, summarizing your analysis. John's address is 100 Morningside, Clinton, MS 39058.
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Related Book For
South Western Federal Taxation 2015 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781285438290
18th Edition
Authors: James Smith, William Raabe, David Maloney, James Young
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