You're introduced to Listed Property. This includes property which is frequently used for business but could also easily be used for personal purposes. This is a controversial area and one in which business owners often like to try to blur the line between personal use and business use. In this discussion, you will explore MACRS guidelines and the limitations on Listed Property. You'll also discuss the appropriateness of bonus depreciation on business property.
Please respond to all of the following prompts:
1. Compare and contrast MACRS depreciation guidelines with the limitations on Listed Property.
2. Discuss whether bonus depreciation is appropriate and/or meets the intended economic goals of the provision.