Answer:
Under Bonus Depreciation, which was part of the tax reform act under Trump’s administration, Taxpayers are allowed to claim 100 percent of property acquired and placed into service after September 27, 2017 and before January 1, 2023. 
Under the Tax Cuts and Jobs Act, bonus depreciation increased from 50% to 100% fro qualified property acquired between September 27, 2017, and before January 1, 2023.
Taxpayers generally want to take as much depreciation expense as possible in the earliest possible years due to the time value of money. 
The time value of money states that 1 dollar today is worth more than 1 dollar tomorrow, so 1 dollar saved today is worth more than 1 dollar saved tomorrow. That means that taxpayers will want to decrease their taxes as much as possible and as soon as possible. 
 
        
                    
             
        
        
        
Answer:
Rewriting each line by hand. 
 
        
             
        
        
        
Answer:
amount recognized gain = $7500
Explanation:
given data 
profits = $500,000
basis = $67,500
fair market value = $75,000
interest = 95%
distribution = $90,000
to find out 
amount of Shepherd Corporation’s recognized gain or loss
solution
we know that here effect of non liquidating distributions on corporation is gain are recognised on property that is express as
amount recognized  = fair market value  - Basis  .................1
put here value we get 
amount recognized = $75,000 - $67,500 
amount recognized gain = $7500
 
        
             
        
        
        
Answer:
As a result, the IFRS test is more strict than U.S. GAAP.