Key Takeaways:

• Plan With the End Goal in Mind: Strong financial planning starts with knowing your long-term goals. Tax and investment decisions should support the outcome you want in the future.
• Use Cost Segregation for Early Tax Savings: Cost segregation can speed up depreciation and create larger tax deductions earlier on, especially for investments you plan to hold for many years.
• Think Ahead Before Selling Assets: Decisions about bonus depreciation and other tax strategies should be considered when you expect to sell an asset, since timing can affect future taxes.
• Goodwill Has Real Value: A business’s reputation, customer relationships, and brand value are important assets. Properly valuing goodwill can improve tax outcomes during a sale.
• The Type of Sale Matters: Selling business stock and selling business assets are taxed differently. Careful planning before a sale can help reduce taxes and protect profits.

Chapters:

Timestamp Summary

0:00 Planning Real Estate Partnerships: Buyouts and Exits

1:24 Weighing Bonus Depreciation and Cost Segregation for Real Estate Deals

4:14 Understanding Tax Implications of Business Asset and Stock Sales

5:14 Understanding Goodwill and Brand Value in Business Sales

6:28 Understanding Goodwill and Its Impact on Business Transactions

8:42 Tax Deductible Expenses and Expert Advice

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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.