Entrepreneurship is a quality that is very attractive to colleges. Admissions committees like to see that you can think outside the box, be creative, and make opportunities for yourself. It’s a skill that’s particularly relevant right now: Many products and services you use came from startups or from companies that began that way.
Answer:
No, it will be different. There will not be any depreciation recapture for an individual taxpayer if the recognized profit is under $1250 with respect to the straight-line depreciation method and the service after 1986. However, a depreciation recapture will be treated from the recognized profit for a C corporation for sales that is approximately $1250 or more.
Explanation:
There will not be any depreciation recapture for an individual taxpayer if the recognized profit is under $1250 with respect to the straight-line depreciation method and the service after 1986. However, a depreciation recapture will be treated from the recognized profit for a C corporation for sales that is approximately $1250 or more.
Answer:
e. Oral communication allows no scope for a permanent record of the message
Answer:
$4,720 for cash and accrual method respectively
Explanation:
Under the cash method, the deduction would be
= Interest expense paid to creditor × (*number of months ÷ total number of months in a year)
= $14,160 × (4 months ÷ 12 months)
= $4,720
The 4 months is calculated from September 1 to December 31
Under the accrual method, the deduction would be
= Interest expense paid to creditor × (*number of months ÷ total number of months in a year)
= $14,160 × (4 months ÷ 12 months)
= $4,720
The 4 months is calculated from September 1 to December 31
Thus, the same deduction is allowed for both methods
