In today's episode, we're diving into one of the less talked about aspects of tax deductions: depreciation, and specifically, depreciation recapture. We'll unravel the intricacies of bonus depreciation and Section 179, and reveal why these strategies might seem like tax eliminators but are often just tax deferrals. Plus, you'll learn how selling your business assets can lead to unexpected tax consequences. Stay tuned for actionable tips on how to navigate these financial nuances and safeguard your business's wealth.
What you'll hear in this episode:
05:21 Consult tax advisor before selling business or assets.
07:26 Foundational business resources for successful startup.
If you like this episode, check out:
Should I Hire a Tax Strategist?
S Corp Salary Explained Like a 3rd Grader
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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.