JEOPARDY QUESTION Question: What is a Section _______ deduction? Answer: Under the TCJA small businesses can...
JEOPARDY QUESTION
Question: What is a Section _______ deduction?
Answer: Under the TCJA small businesses can fully depreciate the cost of certain equipment in the first year.
Fill in the blank or enter here: Hint: review the answers to the depreciation multiple choice questions.
this what the professor gave. all you need to do is fill in the blank
Homework Answers
This refers to Section 179 of the Tax Cuts and Jobs Act of 2017. When you buy property like vehicle or machinery for business uses, you can get tax deductions for buying and using them. These deductions are basically depreciation. This section was enacted to help small businesses by allowing them to take depreciation deduction for certain assets (capital expenditures) in one year, rather than depreciating them over a long period of time. Taking a deduction on an asset in it first year is called a Section 179 deduction.
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JEOPARDY QUESTION
Question: What is a Section _______ deduction?
Answer: Under the TCJA small businesses can...
Please i need your assistance with this question. I will give you good review. Here is...
Please i need your assistance with this question. I will give
you good review.
Here is the 10.7 table for completion of the table above
A piece of newly purchased industrial equipment costs $965,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations...
If you could please Answer question B under the required section Paste B I U $...
If you could please Answer question B under the required
section
Paste B I U $ % ) 4.0 .00 .00 →.0 1 Editing E Cell Styles Ti Format 16 fx A B с D E F G H ] L M N o р 1 The Carlisle Condominiums opened for business on October 1, 2020. Here is its trial balance before adjustment on October 31. 2 3 4 11 12 13 17 Carlisle Condominiums 5 Trial Balance 6 6...
Please answer all the following questions. When you rent out your home for more than 14...
Please answer all the following questions.
When you rent out your home for more than 14 days per year, you have to declare your income and may have to pay taxes. However, it is not as bad as it sounds. This is because certain costs of running a home that would otherwise not be deductible, such as utilities and insurance, become partially deductible when the home is used to produce rental income. The textbook on page 14-18 (see PPTS below)...
I can answer the multiple choice, I just need help with the fill ins. Question 1...
I can answer the multiple choice, I just need help with the fill
ins.
Question 1 (1 Point) This assignment is set up for sequential assessment. Complete each question and submit the answer before moving on to the next question. Correct answers for each question will be made available once the maximum number of attempts have been made for each submission. Nuclear Physics - Nuclear Structure Nuclear Structure Z O Proton r=ro41/3 radius N Neutron A = Z+N A ro...
I can answer the multiple choice, I just need help with the fill ins. Question 1...
I can answer the multiple choice, I just need help with the fill
ins.
Question 1 (1 Point) This assignment is set up for sequential assessment. Complete each question and submit the answer before moving on to the next question. Correct answers for each question will be made available once the maximum number of attempts have been made for each submission. Nuclear Physics - Nuclear Structure Nuclear Structure Z O Proton r=ro41/3 radius N Neutron A = Z+N A ro...
Comprehensive Problem 10-77 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) [The following information...
Comprehensive Problem 10-77 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) [The following information applies to the questions displayed below.] While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a technology support company called eSys Answers. During year 1, they bought the following assets and incurred the following start-up fees: Year 1 Assets Computers (5-year) Office equipment (7-year) Furniture (7-year) Start-up costs Purchase Date October 30, y1 October 30, Yi October...
U.S. Corporation Income Tax Return OMB No. 1545-0123 Fam 1120 For calendar year 2019 or tax...
U.S. Corporation Income Tax Return OMB No. 1545-0123 Fam 1120 For calendar year 2019 or tax year beginning ,2019, ending 20 2019 Dopartment of the Treasury Internal Rovenue Service A Check if: 1a Consolktatod rotum (attach Form 851) b Lifenonlile consol- datod roturm. ► Go to www.irs.gov/Form1120 for instructions and the latost information. Name B Employer identification number ТҮРЕ OR Number, stroet, and room or suite no. If a P.O. box, s0o instructions. C Duto incorporated PRINT 2 Posonal holding...
please answer question #5. the previous answer was incorrect. 5. What is the most significant trend...
please answer question #5. the previous answer was
incorrect.
5. What is the most significant trend based on your horizontal analysis over this three-year period? Why? 12 Months Ended Horizontal Analysis Consolidated Balance Sheets - USD ($) $ in Thousands Dec. 31, 2018 Dec. 31, 2017 S Change 2017 to 2018 % Change 2017 to 2018 $208,694.00 -88.68% 1 Current assets Cash and cash equivalents $26,642 $235,336 Receivables (net of allowance for doubtful accounts of $15,905 and $12,221, respectively) $138,018...
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate....
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate. (28) in the current year, Acom, Inc., had the following items of income and expense! Sales $500,000 Cost of sales 250,000 Dividends received 25,000 The dividends were received from a corporation of which Acom owns 30%. In Acom's current yoar income tax rotum, what amount should be reported as income before special deductions? A. $525.000 B. $508,750 C. $275,000 D. $250.000 The correct answer...
Answer all parts since its one question Please first analyze cash flows for Project L. Then...
Answer all parts since its one question
Please first analyze cash flows for Project L. Then calculate NPV and IRR, and make your capital budgeting decision. To study the health-food market, Allied has done a market research in 2019. This market research costed Allied $10k. The research confirmed Allied's previous belief that the health-food industry has a huge potential and will be a highly profitable industry. Therefore, Allied is considering a new expansion project, Project L, which is a new...
Please i need your assistance with this question. I will give
you good review.
Here is the 10.7 table for completion of the table above
A piece of newly purchased industrial equipment costs $965,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations...
If you could please Answer question B under the required
section
Paste B I U $ % ) 4.0 .00 .00 →.0 1 Editing E Cell Styles Ti Format 16 fx A B с D E F G H ] L M N o р 1 The Carlisle Condominiums opened for business on October 1, 2020. Here is its trial balance before adjustment on October 31. 2 3 4 11 12 13 17 Carlisle Condominiums 5 Trial Balance 6 6...
Please answer all the following questions.
When you rent out your home for more than 14 days per year, you have to declare your income and may have to pay taxes. However, it is not as bad as it sounds. This is because certain costs of running a home that would otherwise not be deductible, such as utilities and insurance, become partially deductible when the home is used to produce rental income. The textbook on page 14-18 (see PPTS below)...
I can answer the multiple choice, I just need help with the fill
ins.
Question 1 (1 Point) This assignment is set up for sequential assessment. Complete each question and submit the answer before moving on to the next question. Correct answers for each question will be made available once the maximum number of attempts have been made for each submission. Nuclear Physics - Nuclear Structure Nuclear Structure Z O Proton r=ro41/3 radius N Neutron A = Z+N A ro...
I can answer the multiple choice, I just need help with the fill
ins.
Question 1 (1 Point) This assignment is set up for sequential assessment. Complete each question and submit the answer before moving on to the next question. Correct answers for each question will be made available once the maximum number of attempts have been made for each submission. Nuclear Physics - Nuclear Structure Nuclear Structure Z O Proton r=ro41/3 radius N Neutron A = Z+N A ro...
Comprehensive Problem 10-77 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) [The following information applies to the questions displayed below.] While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a technology support company called eSys Answers. During year 1, they bought the following assets and incurred the following start-up fees: Year 1 Assets Computers (5-year) Office equipment (7-year) Furniture (7-year) Start-up costs Purchase Date October 30, y1 October 30, Yi October...
U.S. Corporation Income Tax Return OMB No. 1545-0123 Fam 1120 For calendar year 2019 or tax year beginning ,2019, ending 20 2019 Dopartment of the Treasury Internal Rovenue Service A Check if: 1a Consolktatod rotum (attach Form 851) b Lifenonlile consol- datod roturm. ► Go to www.irs.gov/Form1120 for instructions and the latost information. Name B Employer identification number ТҮРЕ OR Number, stroet, and room or suite no. If a P.O. box, s0o instructions. C Duto incorporated PRINT 2 Posonal holding...
please answer question #5. the previous answer was
incorrect.
5. What is the most significant trend based on your horizontal analysis over this three-year period? Why? 12 Months Ended Horizontal Analysis Consolidated Balance Sheets - USD ($) $ in Thousands Dec. 31, 2018 Dec. 31, 2017 S Change 2017 to 2018 % Change 2017 to 2018 $208,694.00 -88.68% 1 Current assets Cash and cash equivalents $26,642 $235,336 Receivables (net of allowance for doubtful accounts of $15,905 and $12,221, respectively) $138,018...
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate. (28) in the current year, Acom, Inc., had the following items of income and expense! Sales $500,000 Cost of sales 250,000 Dividends received 25,000 The dividends were received from a corporation of which Acom owns 30%. In Acom's current yoar income tax rotum, what amount should be reported as income before special deductions? A. $525.000 B. $508,750 C. $275,000 D. $250.000 The correct answer...
Answer all parts since its one question
Please first analyze cash flows for Project L. Then calculate NPV and IRR, and make your capital budgeting decision. To study the health-food market, Allied has done a market research in 2019. This market research costed Allied $10k. The research confirmed Allied's previous belief that the health-food industry has a huge potential and will be a highly profitable industry. Therefore, Allied is considering a new expansion project, Project L, which is a new...
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