Understanding Bonus Depreciation and Recapture

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 Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ 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.