Tag's: Depreciation

Hello. Let's take a look at part three of Overlooked Deductions. If you haven't seen part one or part two, I do advise you go back and watch those videos. You might be able to find some deductions you might have overlooked. Today, we're going to specifically examine your fixed assets and how you might be overlooking some deductions you could have of your fixed assets. So, while you run

[Transcription] Today, I'm talking about... What is depreciation? Depreciation is used for assets. When you buy an asset, and what I mean by "asset" is when you make large purchases that can be used over multiple years, that is considered an asset. When you do this, the default rule is you have to take the expense over several years. Now, there's some certain exclusions in the tax code that allows