On June 5 2016 Javier Sanchez Purchased And Placed In

On June 5, 2016, Javier Sanchez purchased and placed in service a 7-year class asset costing $550,000 for use in his landscaping business, which he operates as a single member LLC (Sanchez Landscaping LLC). During 2016, his business generated a net income of $945,780 before any § 179 immediate expense election.
a. Determine the maximum deductions that Dan can claim with respect to this asset in 2016 and 2017.
b. Complete Javier’s Form 4562 (page 1) for 2016. His Social Security number is 123-45-6789?

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