LO.3, 4 John Johnson is considering acquiring an automobile at the beginning of 2012 that he will
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LO.3, 4 John Johnson is considering acquiring an automobile at the beginning of 2012 that he will use 100% of the time as a taxi. The purchase price of the automobile is
$35,000. John 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 John in which you present your calculations. Also prepare a memo for the tax files. John’s address is 100 Morningside, Clinton, MS 39058.
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Related Book For
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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