Brian Purchased Some Equipment in 2018 Which He Intends to Use

question 742

Essay

Brian purchased some equipment in 2018 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.

---

Definitions:

Convergent

Pertaining to structures or processes that come together or blend, often used in the context of evolutionary biology or plate tectonics.

Parallel

Describes lines or structures that are side by side and having the same distance continuously between them.

Depressor Anguli Oris

The depressor anguli oris is a facial muscle that contributes to the downward movement of the corners of the mouth, expressing sadness or frowning.

Orbicularis Oris

A circular muscle around the mouth that controls lip movements, such as puckering and closing.