Question
Betsy acquired a new network system on June 5, 2015 (5-year class property), for $50,000. She expects taxable income from the business will always be
Betsy acquired a new network system on June 5, 2015 (5-year class property), for $50,000. She expects taxable income from the business will always be about $125,000 without regard to the 179 election. Betsy will elect 179 expensing. She also acquired 7-year property in July 2015 for $250,000. Determine Betsys maximum cost recovery deduction with respect to her purchases in 2015: (Use Table 6A-1) (Round your intermediate calculations to the nearest whole dollar amount.) Show work. This is a question from my ACCOUNTING PROGRAM!!!!!!!!!! Yes, it's a tax question.
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