Evaluate the appropriateness of brets plan

Assignment Help Accounting Basics

Reference no: EM13521496

Brett started a new construction business in August 2014. In connection with the new business, he purchased a new backhoe for $70,000 in September of 2014. The new business is struggling and expecting to show a loss for 2014. Brett is considering expensing the $70,000 cost of the backhoe under §179 on the 2014 tax return. Brett has been awarded a large project for 2015, and expects to show a substantial profit for the year ending 12/31/2015. Evaluate the appropriateness of Brett's plan. Explain your position.

Reference no: EM13521496

Questions Cloud

Does post impressionism represent legitimate art or not : The 19th century and the beginning of the 20th century propelled the art world along a historic path at a very fast pace. Post Impressionism, Fauvism, Pointillism, Cubism, Furturism, Surrealism and beyond. Many of these movements were in response to ..

What is the beta of aol business assets : In mid-2012, AOL Inc. had $100 million in debt, total equity capitalization of $3.1 billion, and an equity beta of 0.90 (as reported on Yahoo! Finance). Included in AOL’s assets was $1.5 billion in cash and risk-free securities. Assume that the risk-..

Determine how many photons does the laser deliver : A laser peripheral iridotomy is a procedure for treating an eye condition known as narrow-angle glaucoma, in which pressure buildup in the eye can lead to loss of vision. How many photons does the laser deliver

What is the total energy of the electron in orbit : In the hydrogen atom the radius of orbit B is 16 times greater than the radius of orbit A. What is the total energy of the electron in orbit B

Evaluate the appropriateness of brets plan : Brett started a new construction business in August 2014. In connection with the new business, he purchased a new backhoe for $70,000 in September of 2014.

Find the volume of the atom : The nucleus of the hydrogen atom has a radius of about 1.1 x 10-15 m. The electron is at a distance of about 5.2 x 10-11 m from the nucleus. find the volume of the atom

How many times would this fully insured person visit the : Suppose that an individual's demand for the number of physician visits per year, Q, can be represented by the following equation: Q = 50-0.4 P, where P, the market price of an office visit, equals physician's constant marginal cost of $110. Determine..

Prepare a targeted plan in which you present your detailed : Prepare a targeted plan in which you present your detailed strategies to recruit and select 20 Engineers to hire (full-time or part-time) within 8 months. Focus on job-relatedness. What are the qualifications of a trained Mechanical Engineer?

Find the possible prices of the call at the end of the first : Consider a two-period, two-state world. Let the current stock price be $35 and the risk-free rate be 5%. In each period, the stock price can either go up or down by 10%. A call option expiring at the end of the second period has an exercise price of ..

User Account

All Pages