Boxer LLC Has Acquired Various Types of Assets Recently Used

question 99

Short Answer

Boxer LLC has acquired various types of assets recently used 100% in its trade or business.Below is a list of assets acquired during 2016 and 2017:
Boxer did not elect §179 expense and elected out of bonus depreciation in 2016,but would like to elect §179 expense for 2017 (assume that taxable income is sufficient).Calculate Boxer's maximum depreciation expense for 2017,(ignore bonus depreciation for 2017).If necessary,use the 2016 luxury automobile limitation amount for 2017.(Use MACRS Table 1 and Use MACRS Table 5)Exhibit 2-8 (Round final answer to the nearest whole number)

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Definitions:

Average Number

A value found by summing a set of numbers and then dividing by the count of numbers in the set.

Employees

Individuals who are hired by a business or organization to perform specific tasks in exchange for compensation.

GST Remittance

This is the process of sending the collected Goods and Services Tax to the governing tax authority.

GST Returns

The periodic filing with the taxation authority detailing sales, the GST collected on sales, and the GST paid on purchases.