98: Don't Let This Tax Strategy Bankrupt You with Leland Gross
01/30/24 • 14 min
Welcome to the Boosting Your Financial IQ podcast with your host, Steve Coughran. In today's episode, we have a thought-provoking discussion with Leland Gross, Founder of Peace Link Financial Planning, on the topic of "Don't Let This Tax Strategy Bankrupt You." We delve into the common misconception that minimizing taxable income, particularly through strategies like Section 179 depreciation, may seem appealing in the short term but can have detrimental consequences in the long run. Leland shares insights on how some businesses, misguided by the allure of immediate tax deductions, find themselves cash-strapped in future years. Moreover, we examine how reducing taxable income to nearly zero can impact a company's creditworthiness and ability to secure essential financing down the line.
Here's how to get started with Boosting Your Financial IQ:
- Step 1: Test your financial IQ for FREE
- Step 2: Download the FREE app
- Step 3: Take the Fundamentals of Finance course
Disclaimer:
BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.
Want to see if you’re a fit for our KPI Kickoff? Check it out here: https://www.coltivar.com/boost
Welcome to the Boosting Your Financial IQ podcast with your host, Steve Coughran. In today's episode, we have a thought-provoking discussion with Leland Gross, Founder of Peace Link Financial Planning, on the topic of "Don't Let This Tax Strategy Bankrupt You." We delve into the common misconception that minimizing taxable income, particularly through strategies like Section 179 depreciation, may seem appealing in the short term but can have detrimental consequences in the long run. Leland shares insights on how some businesses, misguided by the allure of immediate tax deductions, find themselves cash-strapped in future years. Moreover, we examine how reducing taxable income to nearly zero can impact a company's creditworthiness and ability to secure essential financing down the line.
Here's how to get started with Boosting Your Financial IQ:
- Step 1: Test your financial IQ for FREE
- Step 2: Download the FREE app
- Step 3: Take the Fundamentals of Finance course
Disclaimer:
BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.
Want to see if you’re a fit for our KPI Kickoff? Check it out here: https://www.coltivar.com/boost
Previous Episode
Financial and Economic News: January 24, 2024
Major stories developing on the global economic front, including:
- Wall Street Eyes White House Race
- Brevan Howard’s Recession Warning
- Stock Market Gaining Momentum
- Treasury Market Transformation
- Wall Street Buying Spicy Treasury Dip
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- Investing Titans Flee Asia
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FinWeekly has all the details on the latest market and financial news: In this week's episode, we delve into the intricate intersection of politics and finance as Donald Trump solidifies his position as the likely Republican nominee, prompting Wall Street to closely monitor potential market shifts. Brevan Howard's chief economist, Jason Cummins, challenges the consensus, predicting a 2024 recession and urging mindfulness of monetary policy's interplay with geopolitical shifts. We explore the current resilience of stock markets amid strong economic data and expectations for 2024 Fed rate cuts, while SEC Chair Gary Gensler's plans to reshape Treasury Markets through central clearinghouses grab attention. Major Wall Street players advise caution amid early expectations for central bank rate cuts. Hedge funds, led by influential managers, delivered impressive 2023 results, sparking scrutiny of risks. Internationally, Asia's hedge fund founders shift to global giants, driven by high interest rates favoring larger firms. Meanwhile, China's stock market downturn and skepticism about its economic prospects impact currency and bond markets. Tune in for essential insights into the dynamic world of finance!
Here's how to get started with Boosting Your Financial IQ:
- Step 1: Test your financial IQ for FREE
- Step 2: Download the FREE app
- Step 3: Take the Fundamentals of Finance course
Disclaimer:
BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.
Want to see if you’re a fit for our KPI Kickoff? Check it out here: https://www.coltivar.com/boost
Next Episode
Financial and Economic News: January 31, 2024
Major stories developing on the global economic front, including:
- Iran-Backed Missiles Make Economic Impact
- Evergrande, Nevermore
- China Races to Rescue Economy
- Naked & A Fraud: South Korea Exposes Short Sellers
- U.S. Real Estate Resurgence?
- Morgan Stanley Bullish on Banks
- Big Tech’s Big Earnings Week
- No Room For Roomba at Amazon
- Reddit Preps for IPO
- Musk’s Neuralink Reaches Major Milestone
FinWeekly has all the details on the latest market and financial news: In this week's episode, we kick things off by unpacking the economic implications of the US response to the drone strike against our troops in Jordan. Shifting to international finance, we explore the collapse of China Evergrande Group, once a symbol of the country’s robust property market. We also cover China's proactive measures to rescue its economy amidst challenges from a property crisis, deflation, and weak consumer confidence. In South Korea, the regulators’ discovery of $41 million in illegal naked short selling by undisclosed global banks underscores a broader crackdown on illicit financial practices. Back in the US, we discuss a potential resurgence in the real estate market with predicted mortgage rate drops, while Morgan Stanley expresses optimism about major US banks. We also break down Big Tech's upcoming earnings week, Amazon's withdrawal from the iRobot acquisition, Reddit's IPO plans, and Neuralink's milestone achievement.
Here's how to get started with Boosting Your Financial IQ:
- Step 1: Test your financial IQ for FREE
- Step 2: Download the FREE app
- Step 3: Take the Fundamentals of Finance course
Disclaimer:
BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.
Want to see if you’re a fit for our KPI Kickoff? Check it out here: https://www.coltivar.com/boost
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