Jabari Johnson is considering acquiring an automobile at the beginning of 2019 that he will use 100%
Question:
Jabari Johnson is considering acquiring an automobile at the beginning of 2019 that he will use 100% of the time as a taxi. The purchase price of the automobile is $35,000. Johnson has heard of cost recovery limits on automobiles and wants to know how much of the $35,000 he can deduct in the first year. Write a letter to Jabari in which you present your calculations. Also prepare a memo for the tax files, summarizing your analysis. Johnson's address is 100 Morningside, Clinton, MS 39058.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
Maloney Raabe Hoffman Young CPAs 5191 Natorp Boulevard Mason OH 45040 December 20 2018 Mr Jabari Joh...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
Question Posted:
Students also viewed these Business questions
-
On October 15, 2018, Jon purchased and placed in service a used car. The purchase price was $25,000. This was the only business use asset Jon acquired in 2018. He used the car 80% of the time for...
-
Jamie purchased $100,000 of new office furniture for her business in June of the current year. Jamie understands that if she elects to use ADS to compute her regular income tax, there will be no...
-
Sophia and Jacob are married and file a joint return. Their 2017 tax return included a Form 2106 (Employee Business Expenses) for each of them. Their 2018 tax return, however, included a Schedule C....
-
In Problems 4158, fill in the blank to form a correct inequality statement. If x < 5, then x - 5_ 0.
-
Consider a tennis tournament for n players, where n = 2k, k Z+. In the first round n/2 matches are played, and the n/2 winners advance to round 2, where n/4 matches are played. This halving process...
-
A rectangular, air-filled waveguide has dimensions a = 3.8 cm and b = 1.6 cm, and walls are made of copper. For the dominant mode at f = 10 GHz, calculate (a) The group velocity (b) The attenuation...
-
What is the mirror-image rule?
-
Henderson Photographys checkbook lists the following: Henderson Novembers bank statement shows the following: Requirements 1. Prepare Henderson Photographys bank reconciliation at November 30, 2016....
-
The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2024, included the following accounts: Account Title Sales revenue Cost of goods sold Selling and...
-
The Manx Company was recently formed to manufacture a new product. It has the following capital structure in market value terms: Debentures.$ 6,000,000 Preferred stock 2,000,000 Common stock (320,000...
-
On June 5, 2017, Javier Sanchez purchased and placed in service a new 7-year class asset costing $560,000 for use in his landscaping business, which he operates as a single member LLC (Sanchez...
-
On June 5, 2017, Leo purchased and placed in service a new car that cost $20,000. The business use percentage for the car is always 100%. Leo claims any available additional first-year depreciation....
-
How do managers differ from management accountants in their view of accounting information?
-
A person deposits $1000 in an account that yields 9% interest compounded annually. a) Set up a recurrence relation for the amount in the account at the end of n years. b) Find an explicit formula for...
-
Complete the following table by using bootstrapping to find the missing zero coupon rates, then use those rates to find the missing forward rates. (reproduce the table and paste your final answers in...
-
Briefly discuss the possible financial risks associated with portfolio investment and what are the differences between them? and how they can be mitigated?
-
What account balance will never change between the unadjusted trial balance and the adjusted trial balance?
-
Peter's accounts includes the following expenses. Select which TWO of the following costs are NOT allowable in calculating his tax - adjusted trading profit. ( i ) Fees incurred in the recovery of a...
-
Neal, a twelve-year old boy, buys a pair of skis from Outdoor Outfitters ("OO"). He tells the salesperson that he has never been skiing but "he really wants to do it." The OO salesperson urges Neal...
-
What do you think?
-
ABC, Inc., a domestic corporation, reports $50 million of taxable income, including $15 million of general limitation foreign-source taxable income, on which ABC paid $5 million in foreign income...
-
ABC, Inc., a domestic corporation, reports $50 million of taxable income, including $15 million of general limitation foreign-source taxable income, on which ABC paid $5 million in foreign income...
-
ABC, Inc., a domestic corporation, reports $50 million of taxable income, including $15 million of general limitation foreign-source taxable income, on which ABC paid $5 million in foreign income...
-
Evaluate the purchase of a new computer system based on the following information. The system will cost $175,000 It has a useful life of 8 years It will generate a saving of $25,000 per annum The...
-
Respond to the ethical scenario o r respond to the presentation in a Global Table. All responses should be one full page that is typed and double-spaced. Ethical scenarios 1.Recently, Professor...
-
1.Explain why senior management might overstate or understate business performance. 2.Identify and explain three methods financial statement fraudmay be committed. 3.Explain how fictitious revenue...
Study smarter with the SolutionInn App