Section 179 Allows Taxpayers to Immediately Expense Up to $25,000

question 77

True/False

Section 179 allows taxpayers to immediately expense up to $25,000 (for 2014),subject to limitations,of the cost of real and personal property placed into service in a trade or business.

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Definitions:

Symbolic Thinking

Symbolic thinking refers to the ability to use symbols, signs, or objects to represent something abstract, such as ideas or concepts, beyond their immediate, physical presence.

Judy DeLoache

Judy DeLoache is a psychologist known for her research in the development of symbolic understanding in children and how they interact with media and tangible objects.

Research

The systematic investigation or study into materials, sources, etc., in order to establish facts and reach new conclusions.

Theory Of Mind

The capability to understand and attribute various mental states like beliefs, intentions, desires, emotions, and knowledge to both oneself and others, acknowledging the diversity in others' beliefs, desires, and intentions from one's own.