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Episode 111: Red Card Episode 69: Accelerated Depreciation Disaster – The Tax Write-Off that Cost a Loan
Manage episode 424711637 series 3460920
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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 However, this seemingly savvy move backfired when his bank-provided loan was revoked due to the incorrect use of funds.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.
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