Bravo Co. acquired and placed in service $3,000,000 in machinery and equipment throughout the 2021 tax...

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Bravo Co. acquired and placed in service $3,000,000 in machinery and equipment throughout the 2021 tax year. Bravo did not acquire any other depreciable assets during 2021. Assuming the § 179 taxable income limit does not apply, what is the maximum § 179 expense that Bravo Co. can elect and deduct in 2021? Bravo Co. acquired and placed in service $3,000,000 in machinery and equipment throughout the 2021 tax year. Bravo did not acquire any other depreciable assets during 2021. Assuming the § 179 taxable income limit does not apply, what is the maximum § 179 expense that Bravo Co. can elect and deduct in 2021?

Answer rating: 100% (QA)

The Section 179 expense deduction allows businesses to immediately deduct the cost of qualifying ... View the full answer