White company acquires a new machine (seven-year property) on january 10, 2019, at a cost of $620,000. white makes the election to expense the maximum amount under § 179, and wants to take any additional first-year depreciation allowed. no election is made to use the straight-line method. determine the total deductions in calculating taxable income related to the machine for 2019 assuming white has taxable income of $800,000.

the correct answer is $620,000.

Explanation: Section 179 Increased to One Million for 2018: Jan 2, 2018 – With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on equipment purchases likewise has increased to $2.5 million.

3,500 beverages

explanation:

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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