Description

In episode 11 of Waste To Wealth, Michael McCall dives into the recently passed One Big Beautiful Bill Act and its implications for taxpayers and business owners alike, as he explains how the bill preserves important tax deductions that were at risk of expiring, particularly the bonus depreciation benefit.

Tune in to discover how these changes can boost profitability and improve cash flow for your waste hauling business.

Timestamps

[00:01:25] Bonus depreciation benefits for businesses.

[00:03:42] Small business tax deductions.

[00:07:36] Tax benefits for tips and overtime.

[00:11:28] Social Security double taxation.

[00:14:17] Taxable income from tips.

Quotes

• “You had limitations on how far forward and backward you could carry your losses, but now they've extended it so it's basically unlimited.”
• “If the business just takes care of the taxes, that's good.”

SOCIAL MEDIA LINKS

Michael McCall

Instagram: https://www.instagram.com/buffalo.finances.cpa/

Facebook: https://www.facebook.com/BuffalofinanceNC/

LinkedIn: https://www.linkedin.com/in/michael-d-mccall-03667714/

WEBSITE

Buffalo Finances: https://buffalofinances.com/