Michael is the sole proprietor of a small business. In June 2017 his business income is $12,000
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Michael is the sole proprietor of a small business. In June 2017 his business income is $12,000 before consideration of any §179 deduction. He spends $245,000 on furniture and equipment in 2017. 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 2017 with respect to the conference table:
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Related Book For
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
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