Final answer:
Taxpayers could utilize MACRS to accelerate depreciation deductions, enabling them to reduce taxable income more quickly in the early years of an asset's life and defer taxes.
Step-by-step explanation:
Taxpayers were allowed to use the Modified Accelerated Cost Recovery System (MACRS) to their advantage by option (a) accelerating depreciation deductions.
This system allows for a more rapid write-off of the value of business property, leading to larger tax deductions in the earlier years of an asset's life and hence, deferring taxes to future periods. By taking larger deductions upfront, taxpayers could reduce their current taxable income, resulting in immediate tax savings and improved cash flow for business operations.