Hi! I need your help in preparing one Reserch Problem/ FIRST-YEAR Write Off for Business Property. I need 3-5 typed pages (double space) with hight support paragraph+Internal Revenue Code citations.(IRC). For example: 179 a(1) and explanation. Due dATE 02/14/16 FEBRUARY 14 th 10am. Thank you!

\fResearch Problem First-Year Write-off for Business Property Spring 2016 Your professional tax education does not end with determining what the law is today but also requires that you stay informed about the direction the tax laws are going in the future. Any professional engaged in tax planning must make intelligent decisions about how to advise a client in this climate of legislative uncertainty. Your client, Robert, has a small manufacturing business. His equipment is out of date, and he wants to invest in some updated manufacturing equipment in 2016. He has priced it out, and he plans to spend $800,000 on factory machinery (7-year property). He is not sure whether he will buy new equipment or used equipment from another company down the street. His has consulted your firm to find out what kind of write-offs he can get for his purchases. Specifically, he knows he may qualify for a Sec. 179 expensing deduction and also can get regular MACRS depreciation, but he wants to know if his purchases also qualify for bonus depreciation. He also wants to know if it makes a difference whether he buys new or used equipment. He is not sure if he can get bonus depreciation it for 2016 purchases. Prepare a research memorandum for the senior partner on the application of the Sec. 179 expensing and bonus depreciation rules to Robert's proposed purchase. Describe what bonus depreciation is, when it came into the tax Code, what the status of bonus depreciation is for 2016, and identify the type of purchases eligible for bonus depreciation. Also explain how it fits in with Section 179 expensing and regular MACRS depreciation and compute Robert's first year maximum deduction using all possible write-offs. Explain any recent legislative action or nonaction on renewal of the bonus depreciation rules or changes to the expensing rules for 2016. Paper Specifications: 1. The format of your paper should be a tax research memorandum. See posted example. Citations to Code sections, IRS documents, and legislation (e.g., Sec. 1 179, IR-2011-5, H.R. 312) can be in the body of the memorandum. You should footnote longer citations, such as full, bibliographic references to reports, news stories, and other articles. 2. Use 12-point Times New Roman type with 1 inch margins, double-spaced. The page length is limited to 3-5 pages. 3. Your paper should be affixed into a hard folder. Sources: RIA Checkpoint. Newsstand, Tax Watch, and Internal Revenue Code and Regulations. IRS Website: www.irs.gov This website has good descriptions of the bonus depreciation rules. White House: www.whitehouse.gov This website has links to the President's budget and tax proposals. Hint: Check out the \"Green Book.\" Congress.gov: The Congress's website is www.congress.gov. It has a list and description of all pending and legislation and all legislation from past Congresses. The Washington Post, New York Times, Wall Street Journal, and Forbes are other good tax new sources. There also are many congressional websites, such as the House Ways and Means Committee and Senate Finance Committee sites. Trade associations' websites also contain useful information, such as the U.S. Chamber of Commerce and the National Federation of Independent Business (NFIB). Go to www.taxsites.com for a great list of sources. See the posted Deloitte Debriefs U tax research guide for more information. 2