[Mars2010]

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

Regards.

[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.

[Mehwish]

^ So for Nov tests, we will be tested over the 2013 numbers (500,000 and 2m)?

[Mehwish]

^ So for Nov tests, we will be tested over the 2013 numbers (500,000 and 2m)?

[jeff]

Yes – and into mid-year 2014

[jeff]

Yes – and into mid-year 2014

[Mars2010]

Sorry but does the $500,000 is per asset or for total assets?

For example:

I added asset with $450,000 and another asset with $400,000

Section 179 is $850,000 (the sum of the 2 as long as each is less than $500,000)

or it is maximum $500,000?

Thanks a lot

[Mars2010]

Sorry but does the $500,000 is per asset or for total assets?

For example:

I added asset with $450,000 and another asset with $400,000

Section 179 is $850,000 (the sum of the 2 as long as each is less than $500,000)

or it is maximum $500,000?

Thanks a lot

[vanadium3]

it's 500k total. but you can qualify for bonus depreciation. oh tax..

CPA

[vanadium3]

it's 500k total. but you can qualify for bonus depreciation. oh tax..

CPA

[Author]

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