Multiple Choice
Sorensen Corporation purchases equipment in 2016 for $200,000.Sorensen has substantial taxable income and desires to minimize this amount to the fullest extent possible.How much can Sorensen deduct under Section 179?
A) $25,000
B) $30,000
C) $50,000
D) $20,000
E) $200,000
Correct Answer:
Verified
Correct Answer:
Verified
Q12: Discuss why listed property gets special attention.
Q45: Which of the following intangible assets is
Q66: Match each statement with the correct term
Q72: During 2016,Linda has a $12,000 net loss
Q73: Wellington Company purchases a new warehouse on
Q74: Fonzi purchases a personal computer for $4,000
Q78: On August 3,2016,Yang purchases office furniture (7-year
Q80: Eduardo is a single taxpayer with a
Q81: Wu Copy Shop purchases a new copy
Q106: Periodic capital recovery deductions for tax purposes