Aaron Has a Successful Business with $50,000 of Income in 2014

question 86

Multiple Choice

Aaron has a successful business with $50,000 of income in 2014. He purchased a new 7-year MACRS property with a cost of $7,000. For tax purposes, what is the largest write-off Aaron can obtain in 2014 for the new asset?

• A)$500
• B)$1,000
• C)$3,500
• D)$7,000

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Definitions:

Product Trial

An opportunity for customers to try a product before making a purchase decision, often used as a marketing strategy.

Free Samples

Small portions or trial versions of a product given away free of charge to promote and encourage the trial or purchase of the product.

Sexual Rejection

The act of refusing or denying a sexual advance or proposal, which can have various emotional impacts on the individuals involved.

Sexual Fantasies

Imaginative thoughts or mental images focusing on sexual activity or desire, which can be a normal part of sexual health.