Question

peyton is a self employed certified financial planner and bean his business in 2018. during 2018 , he purchased a $500 computer AND a $250 desk. he also paid $6000 in legal/incorporation fees and spent $12 000 for a new ROOF for the Office building he owns. which purchase can be expense in 2018 whithout limitation

Answer 1

solution: Purchases can be expense in 2018 without limitation are as follows. . i). Computer $500 , . ii) Desk $250, ii) Legal Incorporation fees $4,000, and iv) Roof : $12,000 Explanation ... computer Desk, Legal Incorporation fees and roof they are all already paid expenses that can be used without limitation, at least in the same year, as are legall Incorporation fees and other such as computers, Desk ana rool & Ceilling are expenses that will not be made again in some time.

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