Asked by lashay
Assuming a tax rate of 35%, depreciation expenses of $1,000,000 will
reduce income by 350,000
reduce taxes by 350,000
reduce taxes by 650,000
have no effect on income or taxes, since depreciation is not a cash expense
reduce income by 350,000
reduce taxes by 350,000
reduce taxes by 650,000
have no effect on income or taxes, since depreciation is not a cash expense
Answers
Answered by
drwls
It will reduce taxes by $350,000, since it allows you to reduce taxable income by 1 million.
There are no AI answers yet. The ability to request AI answers is coming soon!