you should answer these questions before sunday 1pm 1. Able and Baker own 100% of Management Co., a partnership, which provides management services to car dealerships located in different states. All of the car dealerships serviced by Management Co. are owned by Able. Management Co. bought an airplane for business travel to and from the car dealerships it services. ** Using the MACRES tables in your book, how many years is it appropriate to depreciate the airplane? ** Please prepare an appropriate depreciation schedule for the airplane, which was purchased in 2009 for $3 million. In 2011 Able sold all of the ?out of town? dealerships retaining only the dealership that is nearby his home. As such the airplane became unnecessary and unaffordable. Due to a depressed market, Management Co. was unable to sell the airplane so it entered into a ?dry lease? (provides the airplane without insurance, crew or maintenance) with FliteRite, a certified air carrier in the business of chartering aircraft. FliteRite pays a per hour charge and all reasonable and necessary costs or expenses relating to maintenance, repair and servicing the airplane. Based on the flight logs Management Co. uses the airplane 15% of the time, FliteRite 83% of the time and Able 2% of the time. ** Does this change result in a reclassification of the useful life of the airplane under MACRES? ** How many years should it now be depreciated? ** Please prepare a new depreciation schedule. 2. Henry and Wilma Taxpayers, married filing joint, purchased a three acre tract of land for $600,000 in a desirable location in 2002 intending to build their ?dream castle?. They hired an architect who produced several sets of drawing and building plans for $37,250. In order to help fund the building project they hired a surveyor and lawyer to subdivide the property into three separate lots (assume the lots have an equal fmv) at a cost of $14, 500. They sold the first lot for $251,900 in five months after they bought the property and the second lot for $264,300 fifteen months after the bought the property. In 2004 they constructed their ?dream castle? on the lot they kept for $1.3 million. ** What is their adjusted basis in their ?dream castle?? In 2011 they sold their ?dream castle? for $2.22 million. *** How much gain do they have upon the sale of the home? *** How much gain would they have if Henry and Wilma were over age 55 and have continuously live in the ?dream castle? since it was build in 2004? ** How can they escape paying the tax on the gain? ** What are the tax consequences if they trade their ?dream castle? for an old warehouse that has been converted into a residential loft that has a FMV of $2.49 million? ** What would be the tax consequences if they trade it for a beach bungalow that has a FMV of $489,000?,I need answers before tomorrow 1:00pm and I can pay $100 for them,all of questions are 2012 taxation course's questions if you need 2012 MACRES tables, I can send to you,30 hours,I hope you can send me answers before 12:00am sundy, because I need check you answers. Thank you,I need to make sure you can send me answers before 1 pm tomorrow,18 hrs, I need answers before 1:00pm Sunday EST,18 hrs, I need answers before 1:00pm Sunday EST,OK thanks,2011,please send me the answer within 2 hrs, Thanks,the homework is due to 1:00pm (2hrs later), so please send me answers before 1:00pm EST,tax year should be 2012, if you have time to change, just do it, if dont have time, ignore my message. Thanks,I need it now, did you finish all problems? deadline is 1:00pm sunday,when you can give it to me, I need answers now, if you can not give it to me, I only give you 1~2 hours,if you can not give it to me within 2 hrs from now, I dont need it anymore,Thanks, please make sure you can submit it to me before 3:00pm EST. If you can send it to me within 1 hr, that is best result,I need it before 3:00pm, so please send me answers asap.,I really need them now....,you dont need complete all of questions, just send me what you did now,ok,please send me question 2 asap,I have an question why your answer is 7yrs on question: How many years should it now be depreciated?,what you needed?,you just send me what you did,I send my classmate's answe, you can compare it and find right way,Thanks, when you can give me question 2's answers. I need them,I think my classmate's answer on problem 2 are wrong, so please send me correct answer,if you need my book's content, just tell me more details about what you needed,did u finished question 2?,Can you send me question 2's answers? I need sumbit it to my teacher now,now is 5:00PM I can not wait more time, please send me answers now. the problem is due to 1:00 pm, now is 5:00pm... just send me what you did, if you didnt start to work for problem 2 now, it is too late, I am not satisfied..,The only way I can give you full payment and positive feedback is: submit all answers with 1 hr. Thanks,you dont need to care the answers are correct or incorrect, just use your method to finished them and send them to me before 6:00pm ( 1hr later from now),just tell me what is answer of 1st problem on question 2 (** What is their adjusted basis in their ?dream castle?? ),what content,just help me to answer these 2 questions: ** How can they escape paying the tax on the gain? ** How can they escape paying the tax on the gain?,Enter your follow up question here..."just help me to answer these 2 questions: (** What is their adjusted basis in their ?dream castle?? ** How can they escape paying the tax on the gain? ",I dont need it anymore and I can not give you full payment because you only give 1/2 answers,You didnt finished all of problems and you didnt send me any answers before 1:00pm 29th. I can not pay you full payment, first of all, you didnt finished your work before due date, second you just answered 4 of 9 questions. So I need get my money back, I just pay you $40 for what you did.
Paper#5149 | Written in 18-Jul-2015Price : $25