Question
Taxpayer conducts a business and has a turnover of $55m. On 1 September 2019 the taxpayer purchases a car, that is used 80% for business
Taxpayer conducts a business and has a turnover of $55m.
On 1 September 2019 the taxpayer purchases a car, that is used 80% for business purposes. The car costs $80,000 and has an effective life of 8 years.
What is the maximum deduction available to the taxpayer in 2020 ?
Select one:
a. $46,065
b. $4,783
c. $64,000
d. $11,957
e. $9,565
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Financial Accounting
Authors: Robert F. Meigs, Jan R. Williams, Susan F Haka, Mark S. Bettner
10th Edition
0072316373, 978-0072316377
