Business, 25.11.2021 08:00 cportillo891

In April of 2021, Bill purchased a new automobile for $90,000 that will be used 100% for business. If Bill did NOT have to consider the limitations for depreciation on automobiles, he would be able to deduct $ in regular MACRS depreciation and bonus depreciation the first year. However, he will only be able to deduct $ due to the luxury limitations (considering allowable bonus depreciation).

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In April of 2021, Bill purchased a new automobile for $90,000 that will be used 100% for business. I...