Webb, Inc. is a calendar year taxpayer that is having a very profitable 2021. It is December 18th, and the CEO, Gabrielle Kapler, is looking for ways to reduce the company's income tax liability for the year. She has heard that one tax planning strategy could be to buy equipment before the end of the year, and she would like you to explain why that might work.

a. Identify and describe 2 tax rules or requirements that could make this a successful tax planning strategy.

b. Identify and describe 2 possible limitations on the tax rules or requirements you suggested in part a. of this question.