Do you want the deduction with the IRS today or a year from today? You get to choose.

We might be giving you permission to go buy the new truck. You may say, ooh, ooh, I want a tax

write off. I'm going to ride off the whole hundred grand. Just because I can doesn't mean you

should. You just created a taxable event. Holy crap. I really didn't need it. It was on the

bubble and now it's cost.

Treating this like you're in elementary school. When's the last day to turn in my assignment?

Get it in now. You have to get it in by December 31st. Bonus depreciation can be a trap. And we don't want to let the tax tail wag the dog.

Welcome everybody to another episode of the Main Street Business Podcast with yours truly Mark Kohler and the amazing Matt Sorensen, fellow business owners, real estate investors,

retirement account, self-directed masters. We are here to help you with your year-end tax plan. I love this time of year

because you're giving yourself an extra gift at Christmas if you do it right. But if you don't,

you could end up a lump of coal in your stocking. And you do not want that. So Matt, tell us,

tell everybody our topic. I'm excited about this. Yeah, we're going to talk about whether you can

buy a vehicle or equipment in your business and whether that makes good tax sense amongst all those other things Mark said about us. We are two tax lawyers. So we might be giving you permission to go buy the new truck. I don't know. You might be able to go to your spouse, you know, and say, hey, Matt and Mark said, you know,

this is a good tax decision for us. So we just, I need the new truck or whatever this piece

of equipment might be in your business. Yeah, you tell your spouse, direct all your hate mail to

Mark and Matt. Here's their address. But, uh, we're backing you up on some of this, but not all

of it. We're going to get into that. We're going to get into why this might make sense and why it may not make sense, because we get this question from a lot of our clients and our law firm KKK employers at year end who are like, ooh, I've heard about this bonus depreciation and maybe this big beautiful bill. It's now a time to buy some equipment in my business. Does that help me from a tax standpoint?

Well, let's dive right into it. And we've got to talk about several concepts. And this will really

pay off in a lot of your long-term tax planning as well. And the first one, we're going to talk about

just because I can doesn't mean you should. That's going to be a theme.

The first one I want to talk about.

Most people start figuring that out around like 25, 26 years old in life, you know.

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