Brian Purchased Some Equipment in 2015 Which He Intends to Use

question 67

Essay

Brian purchased some equipment in 2015 which he intends to use in his trade or business.He approaches you to assist him in planning for the ultimate disposal of the asset-whether it be by sale,charitable contribution to the local university,gift to his sister for use in her business,or some other means.Discuss the tax considerations.

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Definitions:

Chalk Board

A smooth, flat panel used for writing on with chalk; often found in educational settings.

Primary Management Function

The basic responsibilities of managers within an organization which include planning, organizing, leading, and controlling.

Budgets Obsolete

The idea that traditional budgeting processes may no longer be effective or relevant in the current fast-paced and ever-changing business environment.

Program Evaluation

The systematic method for collecting, analyzing, and using information to answer questions about projects, policies, and programs, particularly about their effectiveness and efficiency.