Your Perfect Assignment is Just a Click Away

We Write Custom Academic Papers

100% Original, Plagiarism Free, Customized to your instructions!


Tax Form 4562: Maximum recovery deductions and asset basis

Tax Form 4562: Maximum recovery deductions and asset basis

Please prepare and submit an excel spreadsheet addressing the questions below. Also, please upload Form 4562 for eSys. Please upload your submission for this assignment.

MP1. While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a business called eSys Answers which was a technology support company. During year 1, they bought the following assets and incurred the following fees at start-up:

Year 1 Assets

Purchase Date


Computers (5-year)

October 30, Y1


Office equipment (7-year)

October 30, Y1


Furniture (7-year)

October 30, Y1


Start-up costs

October 30, Y1


In April of year 2, they decided to purchase a customer list from a company started by fellow information systems students preparing to graduate who provided virtually the same services. The customer list cost $10,000 and the sale was completed on April 30th. In the summer, they purchased a small van (for transportation, not considered a luxury auto) and a pinball machine (to help attract new employees). They bought the van on June 15, Y2 for $15,000 and spent $3,000 getting it ready to put into service. The pinball machine cost $4,000 and was placed in service on July 1, Y2.

Year 2 Assets

Purchase Date



June 15, Y2


Pinball Machine (7-year)

July 1, Y2


Customer List

April 30, Y2


Assume that eSys Answers does not claim any §179 expense or bonus depreciation.

  1. What are the maximum cost recovery deductions for eSys Answers for Y1 and Y2?
  2. Complete eSys Answers’ Form 4562 for Y1 (use the most current form available).
  3. What is eSys Answers’ basis in each of its assets at the end of Y2?

Order Solution Now

Our Service Charter

1. Professional & Expert Writers: School Assignment only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by School Assignment are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. School Assignment is known for timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At School Assignment, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.