[Mroque]

Hi, does anyone know if the 25k cap is still applicable for section 179.

I believe the Max is 500K and this amount is reduced if total purchases exceed 2M for the year 2015. Is this correct?

The explanation below is from one of Becker’s Simulations: *I don’t understand it because the equipment cost is $35,000 and the Taxable Income is $94,000. Deduction is limited to Income but in this case the income is higher than the cost of equipment and it is not over the MAX amount so why only 25K is allowed?

5. $25,000

The equipment will qualify for the Section 179 deduction. Limitations exist when there is a loss or when qualified purchases exceed $2,000,000 during the year. There is also a maximum cap of $500,000 on the Section 179 deduction. It is the maximum cap that is the limitation here.

[jeff]

Until July exams, use $25k/$200k

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[monikernc]

thank you – i thought i had it right for tomorrow. whew!! what a relief!

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
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Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

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[Mroque]

Thank you Jeff

[Jason Liebel]

Thanks Jeff, wish I saw this before I sent ya a tweet

FAR 80
REG 5/28/16
BEC 7/20/16
AUD 8/8/16

[Nancy]

Can someone send a link to an authoritative source identifying that we are to use 25K for the exam for Q2 2016? I am finding conflicting information online and my friend is convinced 25K is wrong but I have no proof on the AICPA site to show her.

AUD - NINJA in Training
BEC - 78
FAR - NINJA in Training
REG - 82

BEC: 78

REG: 82

AUD: February 20, 2017

FAR: January 2, 2017

For I can do everything through Christ, who gives me strength.
Philippians 4:13

[Tncincy]

What about July 2, will the sec 179 change then? or am I safe with the current 25/200.

It begins with a 75
Been here too long as a cheerleader.....time to pass

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Nancy]

you are taking Reg on my birthday 🙁 haha

AUD - NINJA in Training
BEC - 78
FAR - NINJA in Training
REG - 82

BEC: 78

REG: 82

AUD: February 20, 2017

FAR: January 2, 2017

For I can do everything through Christ, who gives me strength.
Philippians 4:13

[Anonymous]

And after July exams?

[Tncincy]

i went with the answer in the test ninja test bank and that is 25k/200k until at least july. I'm trying to find out if I am safe to continue after july 1. My mind says at least july 15, but I am not the authority so…..who knows please.

It begins with a 75
Been here too long as a cheerleader.....time to pass

It begins with a 75
Been here too long as a cheerleader....ready to pass

[Author]

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