Tom has a successful business with $100,000 of taxable income before the election to expense in 2019.
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Tom has a successful business with $100,000 of taxable income before the election to expense in 2019. He purchases one new asset in 2019, a new machine which is 7-year MACRS property and costs $25,000. If you are Tom’s tax advisor, how would you advise Tom to treat the purchase for tax purposes in 2019? Why?
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Related Book For
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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