Question
On July 10, 2021 Ariff places in service a new SUV that cost $70,000 and weighed 6,300 pounds. The SUV is used 100% for business.
On July 10, 2021 Ariff places in service a new SUV that cost $70,000 and weighed 6,300 pounds. The SUV is used 100% for business. Determine Ariff's maximum deduction for 2021, assuming Ariffs section 179 business income is $110,000. Ariff does not take additional first year depreciation.
A. $14,000
B. $26,200
C. 34,960
D. $70,000
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Under section 179 expensing limite...
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
978-0357109144, 978-0357686652, 978-1305874824
