Cash Advances Are

question 62

Multiple Choice

Cash advances are

• A)a good way to finance your purchases.
• B)cheaper than a line of credit.
• C)not shown on the credit card statement.
• D)easy to make at an ATM machine.

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Definitions:

Vehicle Expenses

Costs associated with the operation, maintenance, and use of a vehicle for business purposes, including fuel, repairs, and insurance.

Luxury Automobile Limitations

Tax rules that cap the amount of depreciation or lease inclusion that can be deducted for high-cost vehicles.

Passenger Autos

Vehicles designed for personal use, including cars, vans, and some light trucks.

Section 179

A tax code provision allowing businesses to deduct the full purchase price of qualifying equipment or software within the tax year.