The § 179 Deduction Can Exceed $25,000 in 2014 If

question 59

True/False

The § 179 deduction can exceed $25,000 in 2014 if the taxpayer had a § 179 amount which exceeded the taxable income limitation in the prior year.

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Definitions:

Classical Theory

An economic theory emphasizing that markets function best without government interference and that economic problems are self-correcting.

Wage Rates

The amount of compensation workers receive per unit of time worked, often expressed hourly or annually.

Intermediate Range

Pertains to a spectrum or level that lies between the shortest and longest extremes, often used in the context of distances, durations, or magnitudes.

Aggregate Supply Curve

Represents the total supply of goods and services that firms in an economy plan on selling during a specific time period, at different price levels.