[Mars2010]

Does the limit of $25,000 for year 2013 applies for each asset purchased ? or all the assets purchased during the year ?

Regards.

[Anonymous]

The limit for all assets is $500,000 for 2013, not $25,000. To be clear, you can place in service five $100,000 assets and expense it all under Sec. 179. The phaseout starts if you place more than $2,000,000 in assets in service, which reduced the $500,000 deduction dollar-by-dollar for every amount over $2M.

The $25,000 limit is the exception for certain SUVs. An SUV is limited to a deduction of $25,000 under Sec. 179. So if your SUV cost $30,000, only $25,000 can qualify as Sec. 179 expense.

[Anonymous]

The limit for all assets is $500,000 for 2013, not $25,000. To be clear, you can place in service five $100,000 assets and expense it all under Sec. 179. The phaseout starts if you place more than $2,000,000 in assets in service, which reduced the $500,000 deduction dollar-by-dollar for every amount over $2M.

The $25,000 limit is the exception for certain SUVs. An SUV is limited to a deduction of $25,000 under Sec. 179. So if your SUV cost $30,000, only $25,000 can qualify as Sec. 179 expense.

[Mars2010]

I'm confused;

Per Becker material: R3.28

“The limit is $25,000 of new or used personal property that is acquired during the year.

a. The maximum amount is reduced dollar for dollar by the amount of property placed in service during the taxable year that exceeds 200,000″

[Mars2010]

I'm confused;

Per Becker material: R3.28

“The limit is $25,000 of new or used personal property that is acquired during the year.

a. The maximum amount is reduced dollar for dollar by the amount of property placed in service during the taxable year that exceeds 200,000″

[UCMCPA]

check for the updates on the Becker site, that might help you. 🙂

FAR - 84
AUD - 94
REG - 86
BEC - 86

[UCMCPA]

check for the updates on the Becker site, that might help you. 🙂

FAR - 84
AUD - 94
REG - 86
BEC - 86

[Mars2010]

Created with Compare Ninja

[Mars2010]

@UCMCPA I did, found nothing

Created with Compare Ninja

[jeff]

Go here: the free ninja notes chapter has the updated info:

https://www.another71.com/cpa-exam-study-plan/

[jeff]

Go here: the free ninja notes chapter has the updated info:

https://www.another71.com/cpa-exam-study-plan/

[UCMCPA]

Created with Compare Ninja

FAR - 84
AUD - 94
REG - 86
BEC - 86

[UCMCPA]

https://www.another71.com/cpa-exam-study-plan/

FAR - 84
AUD - 94
REG - 86
BEC - 86

[I should be studying]

http://www.section179.org

REG - 80 (2/28/13)
AUD - 68 (5/24/13), 84 (7/11/13)
BEC - 83 (8/29/13)
FAR - 70 (12/04/13) 80 (2/10/14)

[I should be studying]

http://www.section179.org

REG - 80 (2/28/13)
AUD - 68 (5/24/13), 84 (7/11/13)
BEC - 83 (8/29/13)
FAR - 70 (12/04/13) 80 (2/10/14)

[jeff]

^^ you have to be careful about using non-exam-related materials.

For instance – the 2012 rate was retroactively changed in January 2013. That's fine for tax returns, but for exam purposes, it wasn't retroactively changed because tax law changes don't hit the exam until 6 mo after they take effect.

[Author]

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