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Episode 111: Red Card Episode 69: Accelerated Depreciation Disaster – The Tax Write-Off that Cost a Loan

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Content provided by Arminco Inc. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Arminco Inc or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this Red Card episode, we dive into the cautionary tale of a doctor who fell into the trap of accelerated depreciation. Hoping to maximize his tax write-offs, he purchased an excessive amount of medical equipment. However, this seemingly savvy move backfired when his bank-provided loan was revoked due to the incorrect use of funds. Join us as we unpack the intricacies of accelerated depreciation, explore the pitfalls of misusing loan funds, and offer crucial advice to ensure your financial strategies support, rather than hinder, your practice's growth.

  continue reading

135 episodes

Artwork
iconShare
 
Manage episode 424711637 series 3460920
Content provided by Arminco Inc. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Arminco Inc or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this Red Card episode, we dive into the cautionary tale of a doctor who fell into the trap of accelerated depreciation. Hoping to maximize his tax write-offs, he purchased an excessive amount of medical equipment. However, this seemingly savvy move backfired when his bank-provided loan was revoked due to the incorrect use of funds. Join us as we unpack the intricacies of accelerated depreciation, explore the pitfalls of misusing loan funds, and offer crucial advice to ensure your financial strategies support, rather than hinder, your practice's growth.

  continue reading

135 episodes

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