To Increase Their Depreciation Deduction on Automobiles, Taxpayers Should Elect

question 115

True/False

To increase their depreciation deduction on automobiles, taxpayers should elect §179 expense.

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Definitions:

Engine Recall

An engine recall is a notice from a vehicle manufacturer to return a vehicle to the dealer for corrective action due to a discovered defect in the engine component.

Refund

Money returned to a purchaser in response to a dissatisfaction with goods or services, or cancellation of a service.

Sales Talk

Persuasive conversations or pitches aimed at promoting and selling a product or service.

Odometer

A device used in vehicles to measure and display the total distance the vehicle has traveled.