Final answer:
It's true that most pieces of equipment can be expensed in one year if they meet IRS regulations, specifically under Section 179 Deduction or Bonus Depreciation, with certain qualifications and limitations.
Step-by-step explanation:
The statement that most pieces of equipment can be expensed in one year if the IRS regulations for that year allow is True, with conditions. Under IRS regulations, Section 179 Deduction or Bonus Depreciation allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year, meaning that if a business buys or leases a piece of qualifying equipment, it can deduct the full purchase price from its gross income.
However, there are specific limitations and qualification criteria that need to be met, and these can change from year to year based on tax laws and economic policies.