The §179 Immediate Expensing Election Phases Out Based Upon a Taxpayer's

question 38

True/False

The §179 immediate expensing election phases out based upon a taxpayer's taxable income.
The §179 phase out is based upon the amount of property placed in service during the year.

---

Definitions:

Relative Price

The price of a good or service in comparison to that of other goods and services, reflecting its value relative to alternative purchases.

Economic Efficiency

A situation where resources are allocated in a way that maximizes the production of goods and services.

Marginal Rate Of Technical Substitution

The rate at which one input can be substituted for another input while keeping the level of output constant.

Marginal Rate Of Substitution

The rate at which a consumer can give up some amount of one good in exchange for another good while maintaining the same level of utility.