1 min read
Strategies for Managing, Reducing & Controlling Debt
Not all debt is bad, in fact debt can be a powerful tool that small businesses can utilize to grow. In this episode we discuss way to avoid the...
Uncover the secrets to maximizing your depreciation deductions before the year wraps up! Timing is everything, and in this episode of Kaizen Time, we share crucial insights that every business owner should know. Learn why starting the process well before mid-December is key, especially considering the challenges posed by the recent pandemic.
Did you know that depreciation deductions can only be claimed for assets actively in service by year-end or within the first three months of the following year? Don't risk losing out on valuable deductions by procrastinating! But remember, it's not just about tax benefits. We guide you through making sound business decisions, emphasizing the importance of acquiring equipment based on genuine need and benefit.
Thinking of taking out a loan to fund equipment purchases? Hold on! Discover why loan payments aren't tax-deductible and why a large deduction today may lead to financial strain in the future. We delve into the long-term implications of your decisions and how they may affect your tax savings, especially if you find yourself in a higher tax bracket next year.
Planning a business acquisition? Timing is the ace up your sleeve! Learn how the timing of acquisitions can impact tax deductions, especially when it comes to tangible assets and goodwill. We provide strategic insights to help you navigate these decisions effectively.
Tune in to master the art of maximizing depreciation deductions through careful planning, thoughtful consideration, and a strategic approach tailored to your business
Do you have questions we can answer or topics you'd like us to cover? Send us an email: bsb@kaizencpas.com
1 min read
Not all debt is bad, in fact debt can be a powerful tool that small businesses can utilize to grow. In this episode we discuss way to avoid the...
Tax season can be a daunting time for small business owners, but it doesn't have to be! In this informative video, we're sharing invaluable...
Are you planning to sell your small business soon? In this episode we discuss how selling your business for a profit should be done years in...