The § 179 Deduction Can Exceed $25,000 in 2014 If

question 59

True/False

The § 179 deduction can exceed $25,000 in 2014 if the taxpayer had a § 179 amount which exceeded the taxable income limitation in the prior year.

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Definitions:

Plant Domestication

The process of genetically adapting wild plants for human use, leading to the development of agriculture and cultivated crops.

Sickles

Hand-held agricultural tools with a curved blade for cutting grass or harvesting crops, widely used in farming for centuries.

Neolithic Revolution

A period marked by the transition from nomadic hunting and gathering to settled agriculture and community living, leading to significant societal changes.

Fertility Rates

The average number of children born to a woman over her lifetime within a specific population.