In 2023, 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 179. Assume that bonus depreciation is not used. How much of the expense can the firm deduct if its taxable income before the Section 179 deduction is $150,000?

Answer rating: 100% (QA)

The amount of the expense Carnes Youngberg CPAs can deduct depends on whether the expense exceeds th... View the full answer