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ArbitrLikvidat [17]
3 years ago
6

An asset (not an automobile) placed in service in June 2018 has a depreciable basis of $35,000 and a recovery period of 5 years.

Assuming bonus depreciation is used, a half-year convention, and no expensing election, what is the maximum amount of cost that can be deducted in 2018?
Business
2 answers:
victus00 [196]3 years ago
8 0

Answer:

$35,000

Explanation:

The Tax Cuts and Jobs Act increased the percentage of bonus depreciation for qualifying assets from 50% to 100% for those assets acquired and put into service between September 27, 2017 and January 1, 2023. If this asset qualifies for a bonus depreciation, then you can depreciate 100% during the first year. You can also use the bonus depreciation with a section 179 expensing in order to depreciate expensive assets, but the section 179 expensing comes first and then the bonus depreciation.

Maurinko [17]3 years ago
5 0

Answer:

The Cost that can be deducted will be $3,500

Explanation:

     Bonus Depreciation=$35,000*50%=$17,500

     Now cost deductible in 2018 will be=$17,500/5=$3,500

Currently 50% bonus depreciation being deducted on assets as per new rulings.

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Discretionary income is the amount of money remaining from her income after paying federal taxes, other mandatory charges, and necessary expenditures for living. In this situation, Emily is earning a gross income of $97,000. When you deduct her necessary expenditures for mortgage, food, and clothing in the amount of $37,000 and her federal income taxes in the amount of $24,000 from her gross income, you can get her discretionary income which is $36,000.

4 0
3 years ago
Complete the sentence. "When a market failure arises because marginal social benefit exceeds the ability and willingness to​ pay
pochemuha

Answer:

The correct answer is option C.

Explanation:

Market failure refers to the situation when the market is not able to efficiently allocate resources and the government has to intervene. Market failure generally happens because of the presence of externalities.  

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2 years ago
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damaskus [11]

Answer:

<u>Brainstorming.</u>

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The situation exposed in the question above is an example of brainstorming, which can be defined as a group dynamics technique where there is the generation of ideas for a given project.

This activity is developed with the main objective of exploring the creative and innovative capacity of an individual or a group, stimulating the team's creativity, collecting ideas and the maximum amount of information, visions and possibilities in order to achieve a determined objective.

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What business cycle means?
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The repeating economic changes that happen in a society over time are known as business cycles. It can be recognized by changes in the GDP and other macroeconomic indicators.

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8 0
1 year ago
HELPPP MEEE ILL MARK YOU BRAINLIEST
kakasveta [241]

Answer:

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