In today's episode, Shannon delves into the intricacies of bonus depreciation and the often-overlooked aspect of depreciation recapture. This episode aims to demystify these terms and explain why they might be more about tax deferral than tax elimination. Listeners will gain a clear understanding of how these deductions can impact them, particularly when it comes to selling a business or its assets. Through actionable tips and in-depth insights, Shannon empowers entrepreneurs to make informed decisions about managing their assets and optimizing their tax strategies. Tune in to make the financial side of your business a bit more enjoyable and comprehensible.
What you'll hear in this episode:
05:34 Consult your tax advisor before selling assets.
06:47 Discuss depreciation recapture impact with tax professional.
If you like this episode, check out:
The Truth About IRS Agents and Getting Audited
End-of-Year Financial Prep: Three Essential Steps for Business Owners
The Truth About Tax Savings and Strategies
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
