Fariq purchases and places in service in 2020 personal property costing $2,611,000. The taxpayer plans to apply the Sec. 179 deduction, but not bonus depreciation. What is the maximum Sec. 179 deduction that Fariq can deduct, ignoring any taxable income limitation

Answers

Answer 1

The maximum deduction that Fariq can deduct is $1,019,000

Solution

In the year 2020, the Sec 179 deduction expense is given as 1040000 dollars. This the deduction expense given that the qualifying personal property has a worth that is greater than 2590000 dollars.

Then the phase out would be the difference between the amount of investment and property cost

Phase out = 2611000 - 2590000

= 21000 dollars

Maximum Sec. 179 deduction = $1,040,000 - 21000

= $1,019,000

The maximum deduction that Fariq can deduct is therefore $1,019,000

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Related Questions

On November 1, 2019, Davis Company issued $30,000, six-year, 7% bonds for $29,340. The bonds were dated November 1, 2019, and interest is payable each on May 1 and November 1. Davis uses the straight-line method of amortization. How much is the book value of the bonds after the November 1, 2020 interest payment was recorded using the straight-line method of amortization

Answers

Answer:

29,700 dollars is your answer

Explanation:

Credit score is used to determine your financial worth ?

Answers

The higher the score, the better a borrower looks to potential lenders. A credit score is based on credit history: number of open accounts, total levels of debt, and repayment history, and other factors. Lenders use credit scores to evaluate the probability that an individual will repay loans in a timely manner.

Answer:

Explanation:

I live in Canada.

I have been told that my credit score is quite high. That's because I don't live beyond what I can pay for with this month's paycheck. I don't think anyone would judge my net worth by my credit score. In fact, bank loans won't think of stopping at credit rating. They (in Canada at least) would never think of giving out a loan whose repayment    per month exceeded 1/3 of my paycheck.

Maybe I just have a tough bank, but I certainly agree with their policy.

Most people do not select a place of residence based on: A. lifestyle B. needs C. values. D.attitudes E. credit score

Answers

It is generally uncommon for people to decide a place of residence based on E. credit score

When people look for places to stay, they think about their:

Lifestyle and what house it suits that Their needs from a place Their values and whether the place would support them Attitudes towards what kind of place they should live

People only think about the credit score when it comes to paying the rent of the place or being able to buy it. It is generally not a factor when selecting a place of residence initially.

In conclusion, most people do not select residence based on credit score.

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Mega Corp. has departments for marketing, sales, finance, customer service, human resources, and production. Mega Corp. is organized by

Answers

Because the corporation has department for marketing, sales, finance, customer service, human resources, production, then, we can conclude that Mega Corp. is organized by Functional Structure.

The Functional Structure is the type of organizational structure where employees are grouped according to their specialized roles or tasks.

The functional structure is most used type of organizational structures in the modern world.

Therefore, in conclusion, because the corporation has department for marketing, sales, finance, customer service, human resources, production, then, we can conclude that Mega Corp. is organized by Functional Structure.

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What is the duties of business before transaction?

Answers

Answer:

Social responsibility of business implies that corporate managers must promote the interests of all stakeholders not merely of shareholders who happen to be the so called owners of the business enterprises.

Explanation:

hope it helps you

What are the most important determinants of success in an interview? HELP ASAP ONLY RIGHT ANSWERS

A. Miscellaneous, Responsiveness
B. Responsiveness , Packaging
C. Responsiveness, Experienced
D. Packaging ,Experience

Answers

The most important determinants of success in an interview includes Responsiveness, Packaging, Experienced etc

Success in the context refers leaving a good impression to the interviewer and that one is capable to handling the job position applied for.

Some of the determinant that brings success in an interview includes:

Responsiveness: The act of responsiveness, verbal tone speaks much about the job applicant.

The packaging means the act of dressing smart.

Experienced refers to length of previous work experience possessd by job applicants

Therefore, the Option B, C and D is correct.

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Amy convenes a meeting to rethink the organizational structure to avoid being beat to the market by a competitor again. Based on your initial impressions of the situation, which solution do you think might be more effective: increase formalization or reduce hierarchy

Answers

Amy should reduce hierarchy if she wants to avoid being beaten by competitors.

A reduction of hierarchy will realign the company to achieve its goals faster than operating with a formalized hierarchy. This restructuring or delayering is known as empowerment.

The advantages that Amy will achieve by delayering or reducing hierarchy include:

Simplifying the organization's management structuresReducing its bureaucracyCutting its communication pathsSpeeding up decision-makingPushing responsibility down to lower organizational levels (through empowerment).

Thus, Amy should rethink the organizational structure by reducing the hierarchy, making the decision-making process accessible.

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Which of the following is NOT a duty imposed on partners?

a.
- Disclosure of full information.

b.
- To account for benefits received.

c.
- Good faith.

d.
- Fidelity (where the partner enters a partnership in another, unrelated, industry).

Answers

Answer:

to account for benefits received

The following information relates to the acquisition of the assets of Quine Corporation by Armstrong Inc. for Year 5. Fair value of Quine GW, January 1, Year 5 60,000 Fair value of Quine GW, December 31, Year 5 55,000 When the assets were originally purchased by Armstrong on January 1, Year 1, the goodwill of the Quine business was determined to be $100,000 and would last 10 years. During Year 5, Armstrong also spent $36,000 to enhance the brand image of Quine's products and it is expected that the enhancement will have to be done again in four years. What is the amount of expense to be shown on the income statement of Armstrong Inc.

Answers

The amount of expense that Armstrong Inc. must show on its income statement is $24,000.

This amount represents the Amortization of the Brand Image Enhancement ($9,000), the Impairment Loss in the Fair Value of the acquired assets ($5,000), and the Goodwill Impairment ($10,000).

Data and Calculations:

Fair value of Quine Corporation on January 1, Year 5 = $60,000

Fair value of Quine Corporation on December 31, Year 5 = $55,000

Goodwill (acquired) on January 1, Year 1 = $100,000

Duration of Goodwill = 10 years

Cost of Brand Image Enhancement in Year 5 = $36,000

Estimated useful life of Brand Image = 4 years

Annual amortization of Brand Image = $9,000 ($36,000/4)

Impairment Loss of Fair Value of Assets = $5,000 ($60,000 - $55,000)

Goodwill Impairment = $10,000 ($100,000/10)

Total expenses = $24,000 ($9,000 + $5,000 + $10,000)

Thus, $24,000 expense will be shown on Armstrong, Inc.'s Income Statement in Year 5.

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The​ ________ tells managers how much of the overall variance is due to paying a higher or lower price than expected for the quantity of materials it purchased.

Answers

Direct labor rate variance

Over the last three years, Christmas tree prices have increased from an average of $35 per tree to over $75 per tree. How would a Christmas tree farm and the overall industry respond to the price change under the following circumstances

Answers

The Christmas tree farm would respond by:

In the short run, producers are going to earn profits and also increase their supply of the product.

This is what usually happens whenever there is an increase in the prices of goods in the supply side of the market.

As the prices would go up, the producers would want to take advantage of the increases to make as much gain as they can from the market.

This is only short term profit. Therefore the supply is going to be inelastic. The demand is only going to available for a short while.

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When the price of a normal good rises, the income effect results in ________ in the quantity demanded and the substitution effect results in ________ in the quantity demanded.

Answers

In the case of a normal good, the consumer will decrease the consumption of a good when its price rises. This is because both income and substitution effects are unidirectional in this case.

When the price of an inferior good falls, the substitution effect contributes to an increase in the quantity demanded, and the income effect opposes the substitution effect.

As a company moves a customer through the purchasing process, the percentage of prospects changes. Which stage of the AIDA process has the smallest percentage of prospects associated with it

Answers

Considering the situation described above, the stage of the AIDA process that has the smallest percentage of prospects associated with it, "the action stage."

AIDA is a model that is used in marketing to evaluate the process in which consumers go through before making a purchase decision.

The AIDA model is an acronym for Attention, Interest, Desire, and Action.

Of all the different stages in the AIDA, the Action Stage is considered to have the smallest percentage of prospects.

This is because prospective consumers might go through the other stages without actually taking action, which is a purchase.

Hence, in this case, it is concluded that the correct answer is "The action stage."

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Answer:

the correct answer is "The action stage."

Explanation:

Label each of the statements as either true or false. Each label can be used more than once.

a. Informative advertising can include information about price, quality, and/or availability.
b. When a company spends a lot on advertising it is signaling that it expects that its product will be successful in the marketplace.
c. Advertising as part of the product includes information about price, quality, and availability.
d. Advertising as part of the product is used to persuade us to consume the good or service with little or no information about the product.

Answers

It is true that informational advertising can include information about price, quality and availability, as this type of advertising aims to inform the customer about the product's characteristics.

When a company spends a lot on advertising, it is a sign that it expects its product to be successful in the market, as advertising is capable of boosting a product, generating a desire to buy and creating value for the product.

Advertising as part of the product includes information on price, quality and availability and is characterized as informational advertising.

Advertising as part of the product is used to persuade us to consume the good or service with relevant information about the product, so that the consumer knows its features and benefits, and decides to make the purchase.

So the options are:

a. TB. Tc. Td. F

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Next Up Computer Company thinks it will make a splash with cartoon-themed laptop cover designs scheduled for release next year. The computers do not have any other feature differences from what Next Up currently offers. This effort is an example of using __________ to differentiate a product as new.

Answers

Considering the situation described above, this effort is an example of using image differentiation to differentiate a product as new.

Image differentiation is a type of differentiation strategy used by business firms to differentiate their products through communications.

By using communication strategies such as written, audio, digital, advertisement, or images to differentiate between various products or from existing products, this is an example of image differentiation.

Thus, when Next Up Computers only changes the cover designs alone, that is a form of image differentiation.

This is type of differentiation is often referred to as Reputation Differentiation.

Other types of differentiation methods include the following:

Product differentiationService differentiationRelationship differentiationDistribution differentiation.Price differentiation.

Hence, in this case, it is concluded that the correct answer is "Image Differentiation."

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Give your opinions on this quote: To win a negotiation, you have to show you're willing to walk away. And the best way to show you're willing to walk away is to walk away (Michael Weston).

Answers

Answer:

The quote is pretty much true, and agreeable. If you want to win something, you gotta be able and willing to lose it. And the best way to show you're willing to do something? Do it.

Explanation:

^^

Brainliest if you answer help

Answers

Answer:

probably 2...............

How should Hollywood movie studios take advantage of these opportunities, while mitigating the threats

Answers

Answer:

yes

Explanation:

How can a bank help Millennial and Gen Z consumers plan to start a family?

Answers

A bank can help Millennial and Gen Z consumers to plan to start a family by:

Giving out mortgage loans to them

According to the given question, we are asked to show the role a bank can play in helping Millennials and Gen Z generations to start their own family.

As a result of this, we can see that Millennials are people who are considered to be within the age bracket of 25-40, while Gen Z are people who are considered to have been born during the social media and internet age and are usually between the ages of 24 and below.

With this in mind, Millennials have likely started up their own family and the Gen Z are likely just coming out of college. Hence, a bank can help both generations to start up their family by giving them mortgage loans and other financial benefits.

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What is defined as the human response to overstimulation?​

Answers

Answer:

In essence, stress is the human body's response to overstress.

Explanation:

During stress, the human body produces the hormone adrenaline, which makes you look for a way out. Stress in small amounts is necessary for everyone, because it makes us think, look for a way out of the problem, and in this case it has a positive value. But on the other hand, if stress becomes too much, the body becomes weaker, loses strength, the ability to solve problems and can cause serious illness.

Answer:

What is the definition of overstimulation?

English Language Learners Definition of overstimulate

: to cause (someone or something) to become too active or excited : to stimulate (someone or something) too much. See the full definition for overstimulate in the English Language Learners Dictionary. More from Merriam-Webster on overstimulate

why is decsion necessary​

Answers

Do you mean decision?

When Mexico suffered from capital flight in 1994, Mexico's net capital outflow a. and net exports decreased. b. and net exports increased. c. increased while net exports decreased. d. decreased while net exports increase

Answers

Answer:

B. and net exports increased

Explanation:

The ability to take initiative in the workplace is called

A. adaptability
B. communication
C. leadership
D. problem solving

Answers

The answer is C, Leadership.

The ability to take initiative in the workplace is called leadership.

Thus, the correct option is C.

What do you mean by Leadership?

The capacity to influence and direct followers or other members of an organization is referred to as leadership.

Competent, skilled, secure, and caring leaders excel in their positions. These leaders are honest and authentic in their behaviors and words, and they make time for everyone. They publicly communicate to their staff that they value people.

They are crucial traits to possess because a competent leader can inspire his or her team to work together toward a common objective by bringing out the best qualities in each person.

In order to prevent delays, a skilled leader keeps the group engaged and on task. A productive and happy work atmosphere is fostered by leaders who are transparent and honest.

Transparency with team members is essential for an effective leader, making it one of their essential traits. Many people, including team members and coworkers, look up to an effective leader.

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#SPJ2

how does Quickbooks online use smart learning?

Answers

Answer:

Quick Books Online uses smart learning in its reconciliation tool to help find any rogue transactions by recognizing if transactions have been excluded erroneously from bank feeds. Because bank feeds includes all transactions of bank account. What 2 reasons might mean a transaction needs to be excluded in bank feeds?

Explanation:

Quickbooks online use smart learning by : Recognizing if transactions have been excluded erroneously from bank feeds.

Quickbooks is an accounting software that assist businesses manage their income and expenses. The software also keep track of the financial health of the business.

The possibility of recognizing if transactions have been excluded erroneously from bank feeds is evident in usage of quickbooks online.

The software help to track customer profitability from the consolidated data of customers and suppliers in a detailed way, which allows for greater analysis and decision-making.

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A firm has the following sales figures: Year 2011: $2.1 million. Year 2012: $2.3 million. Year 2013 $2.5 million. Year 2014 $2.2 million. Year 2015 $3.1 million. Using the naive approach, determine the forecast for next year's sales. A. $3.2 million. B. $3.1 million. C. $3.4 million. D. $2.5 million

Answers

Answer:

3.1 million

Explanation:

naive approach assumes that your projected data point is just your most recent one

because we have 3.1 million last year we assume that it's going to be that this year

Which of the following statements is TRUE?

O The interest rate on your savings account will remain the same as long as you keep the account open.

O You can choose the interest rate on your savings account, but only once per year. O The interest rate on your savings account will vary over time and be set by the bank.

O The interest rate on your savings account will vary over time and be set by the government.

Answers

Answer:

Third one....The interest rate on your savings account will vary over time and be set by the government

Earn interest at a norminal rate.

Compare your results to the industry ratios and describe what NMC should do to improve its position in the market.

Answers

Answer:

sorry need points ok.

Explanation:

sorry talaga ha

pero wag kayong magalit

ayaw kasukowag kang magalitnever angry

What is known as assets? ​

Answers

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.

Mark Brainliest please

Solo wants to store her tax returns, her will, and her budget in a location where she can quickly retrieve these records for review and revision.
What is the MOST logical thing for Solo to do with these records?
ОА
Place them in a paid storage facility.
ОВ.
Don't store them; they should be shredded.
Ос.
Save them to a computer file.
OD
Store them in a safe deposit box.

Answers

OD is the logical one in my opinion

Answer:

Save them to a computer file.

Explanation:

Just took the test, and this is the answer.

what are the source of law ?

Answers

Sources of law are the origins of laws, the binding rules that enable any state to govern its territory. The term "source of law" may sometimes refer to the sovereign or to the seat of power from which the law derives its validity.

hope it helps

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