Monicon Corporation purchased a $24,000 computer in 2004 and elected to expense it under Section 179. In
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Monicon Corporation purchased a $24,000 computer in 2004 and elected to expense it under Section 179. In 2007, the IRS audited Monicon and determined that its taxable income was incorrectly calculated and was only $20,000 before considering Section 179 expensing instead of the $24,000 reported on its 2004 tax return.
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Related Book For 
Taxation For Decision Makers 2008
ISBN: 9780324654110
2nd Edition
Authors: Shirley Dennis-Escoffier, Karen A. Fortin
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