Tax Flashcards

1
Q

Limits for charitable deductions

A
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2
Q

MACRS property classes (shortcut)

A

5- CAT (Computers & office equip, Autos, Taxis/trucks)
7- O (Office furniture/fixtures)
27.5-R (Residential real estate)
39- N (Nonresidential real estate)

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3
Q

MACRS depreciation conventions

A

Mid-month: Real property
Mid-quarter: More than 40% in Q4
Half-year: Everything else

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