Question
determines the following for each case: the amount of depreciation allowed for this taxable year if section 179 is not considered. the amount of depreciation
determines the following for each case: the amount of depreciation allowed for this taxable year if section 179 is not considered.
the amount of depreciation allowed for this taxable year if section 179 is considered.
Case 2: Benjamn Cruz and Yolanda Vlez
Benjamin Cruz is married to Yolanda Velez, with whom he has a car wash business. The business produces an annual income of $120,000. During the taxable year, they acquired and put into operation a car wash machine that has a useful life of five years. They purchased the machinery for $25,000.00.
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