Question: In 2 0 2 4 , Carnes & Youngberg, CPAs purchased a new heating and ventilation system for their building for $ 1 2 5

In 2024, Carnes & Youngberg, CPAs purchased a new heating and ventilation system for their building for $125,000 and elected to expense the entire cost under Section bonus depreciation is not used. a. How much of the expense can the firm deduct if its taxable income before the Section 179 deduction is $150,000? b. How much of the expense can the firm deduct if its taxable income before the Section 179 deduction is $110,000? c. What if the firm had an operating loss of $25,000? I just need the answers to why. Why are these the answers to a,b and c?
In 2 0 2 4 , Carnes & Youngberg, CPAs purchased a

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