The Art of Borrowing Money Responsibly

Key Takeaways:

• Use Assets Wisely: Borrowing against valuable assets instead of selling them can provide access to cash while potentially reducing taxes and keeping the asset invested.
• Use Tax Strategies: Depreciation and cost segregation can create tax deductions that may lower taxable income while the business continues to generate real cash flow.
• Manage Risk Carefully: Have a clear risk management plan to make sure borrowing stays under control and the business can handle financial downturns.
• Think Long Term: Tax strategies such as depreciation should fit into your larger financial plan, especially when considering future taxes when assets are sold.
• Work With Professionals: Experienced CPAs and financial advisors can help identify legal tax strategies, manage assets, and build a long-term wealth plan.

Chapters:

Timestamp Summary

 

0:00 Managing Tax Bills and Assets 

2:09 Midwest Sayings and Energy Discussions

2:35 Tax Efficiency of Security Backed Lines of Credit

4:44 Understanding Depreciation and Cost Segregation in Real Estate

6:47 Tax Implications of Depreciating Assets and Capital Gains

7:28 Discussing Financial Strategies and Long-Term Goals

Powered by ReiffMartin CPA and Stone Hill Wealth Management

 

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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.