When Computing E & P, Taxable Income Is Not Adjusted

question 85

True/False

When computing E & P, taxable income is not adjusted for § 179 expense.

---

Definitions:

Abolition Laws

Legislation aimed at ending the practice of slavery, with significant examples including the British Slavery Abolition Act of 1833 and the Emancipation Proclamation in the US.

Maryland

A region situated in the Mid-Atlantic area of the U.S., renowned for its important historic locations and being the origin of the national anthem.

Phillis Wheatley

The first African American female poet to be published, her works reflecting her life and times as a slave in the late 18th century.

African-Americans

An ethnic group in the United States with ancestors primarily from the African continent, historically subjected to slavery and discrimination but with a rich cultural heritage and significant contributions to American society.