ZuoTi.Pro
Question

HAVE YOU EVER DEPRECIATED ANY PERSONAL OR REAL PROPERTY? DID YOU KNOW ABOUT THE SPECIAL TAX...

HAVE YOU EVER DEPRECIATED ANY PERSONAL OR REAL PROPERTY?

DID YOU KNOW ABOUT THE SPECIAL TAX BREAKS? THERE ARE MANY, THIS IS ONE AREA WHERE THE TAX CODE IS QUITE GENEROUS TO THE TAXPAYER. WHY DO YOU THINK SO? IS IT FAIR??

WHAT IS CONTAINED IN THE NEW TAX LAW PASSED IN 2017 THAT CHANGED THE RULES FOR DEPRECIATING PERSONAL OR REAL PROPERTY? WHAT DO YOU THINK OF THE CHANGES?

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Real property refers to immovable items like buildings I.e., tangible movable property and personal property means goods such as furniture i.e., movable property and both properties are depreciated if it is an asset to the entity.

Special tax break is a savings on taxpayer's liability. If the government gives a tax break to the particular group of people or particular group of organizations so it reduces the amount of taxes paid by them and it is fair

GST was introduced in 2017 and depreciated rates of some assets like buildings and furnitures were drecreased

0 0
Add a comment
Know the answer?
Add Answer to:
HAVE YOU EVER DEPRECIATED ANY PERSONAL OR REAL PROPERTY? DID YOU KNOW ABOUT THE SPECIAL TAX...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • pick 1 of the five things you should know about capital gains tax, and give a...

    pick 1 of the five things you should know about capital gains tax, and give a pro or con point of view on the artical. Paragraph Styles 6 5 Things You Should Know about Capital Gains Tax Updated for Tax Year 2019 OVERVIEW A capital gain occurs when you sell something for more than you spent to acquire it. This happens a lot with investments, but it also applies to personal property, such as a car. Every taxpayer should understand...

  • Chapter 16 The Tax Is Illegal—Getting the Story Out 1. Is it the TRUTH? 2. Is...

    Chapter 16 The Tax Is Illegal—Getting the Story Out 1. Is it the TRUTH? 2. Is it FAIR to all concerned? 3. Will it build GOODWILL and better FRIENDSHIPS? 4. Will it be BENEFICIAL to all concerned? —The “Four Way Test,” written by Herbert J. Taylor, adopted as creed of Rotary International, 1943 Lunapark was an urbanized township. It used to have farms, but they were all gobbled up with housing developments. The only businesses were nonagricultural manufacturers, offices, and...

  • Continuing Case 69. Estate Tax Estimate Jamie Lee and Ross are in their late fifties and...

    Continuing Case 69. Estate Tax Estimate Jamie Lee and Ross are in their late fifties and enjoying planning for their next phase in life: retirement! The triplets are finishing their college educations and will be starting careers of their own in no time at all. As they prepare their children for the next chapter in their lives, Jamie Lee and Ross emphasize the importance of preparing for the future and drawing on their own experiences when offering advice to the...

  • Please read the article and answer about questions. You and the Law Business and law are...

    Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...

  • Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...

    Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...

  • Will facebook be able to have a successful business model without invading privacy? explain your answer?...

    Will facebook be able to have a successful business model without invading privacy? explain your answer? could facebook take any measures to make this possible? BUSINESS PROBLEM-SOLVING CASE Facebook Privacy: Your Life for Sale Facebook has quickly morphed from a small, niche haps most obviously. Facebook allows you to keep in networking site for mostly Ivy League college stu- touch with your friends, relatives, local restaurants, dents into a publicly traded company with a market and, in short, just about...

  • Hi can You help me make a summary about this short article, and also tell me...

    Hi can You help me make a summary about this short article, and also tell me how it affects me economically as US citizen ? As Government Shutdown Persists, Americans Feel the Bite Members of the Secret Service on Monday outside the White House. Virtually every employee with the agency is required to work during the shutdown.CreditDoug Mills/The New York Times Image Members of the Secret Service on Monday outside the White House. Virtually every employee with the agency is...

  • THE COMPANY: MORE POWER, INC. More Power, Inc., is a large, local retail store specializing in...

    THE COMPANY: MORE POWER, INC. More Power, Inc., is a large, local retail store specializing in the sale and service of hardware, tools, lawn and garden implements, and other materials for the home. More Power operates seven days a week, dawn to dusk. Approximately 120 employees work in distinct divisions within the store, including customer service/return desk; warehouse and delivery; service and repair; and three distinct sections focused on (1) hardware and tools, (2) lawn and garden and outdoors, and...

  • The discussion: 150 -200 words. Auditing We know that computer security audits are important in business....

    The discussion: 150 -200 words. Auditing We know that computer security audits are important in business. However, let’s think about the types of audits that need to be performed and the frequency of these audits. Create a timeline that occurs during the fiscal year of audits that should occur and “who” should conduct the audits? Are they internal individuals, system administrators, internal accountants, external accountants, or others? Let me start you: (my timeline is wrong but you should use some...

  • Mary Benninger had sought out her old friend, Tom Chu, to discuss her employment situation. Mary...

    Mary Benninger had sought out her old friend, Tom Chu, to discuss her employment situation. Mary and Tom had both graduated in 1985 from Mackenzie King University, and then studied together to attain their CMA designations in 1988. Soon thereafter, Tom was promoted quickly within his division of a large multi-national auto supply company, and now held the position of vice-president/controller. Mary, on the other hand, had temporarily removed herself from full-time employment in 1990 to raise her young daughter....

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT