You’ll be surprised how much money you can save! A quick daily hit with Carl Gould to achieve a lifetime of results. #70secondCEO your micro-podcast…GO!
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Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.
When you buy an asset, the IRS puts you on an automatic, a default, if you will, depreciation schedule. So piece of real estate, they look at the four walls and the roof and they say, okay, you can depreciate that over 39 years, 39 equal payments, 39 equal depreciation rate, what they call amortization. Okay? Now they also allow for you to accelerate that, meaning, you can double up or you can take additional depreciation earlier. You could take that 39-year and you can bring it down to 18-year. You could bring it down, you know, I don’t know all of the ones you the experts will do that. But inside that building, you have equipment, you’ve got machinery, you’ve got appliances, you might do research and development. Mattress manufacturer trying to build a new mattress. That’s R & D, you can get credits for that. So do a cost segregation and accelerated depreciation study on your business. Your accountant knows exactly what that is and instead of you making a tax payment next quarter, you’ll likely be able to accelerate some depreciation and keep that cash instead of having to pay it out.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.