Bonus depreciation is one of the great benefits of leasing from a tax perspective. Kelly McKinney, VP of Risk Mitigation at LHPH Capital, and JP Bryan, CPA and Partner at Martin bryan Accounting and Consulting, discuss strategies for a future where bonus depreciation may no longer exist. As we approach 2023, bonus depreciation will begin to decrease 20% each year and dealers will need to figure out their long term strategy to maintain tax advantages. During this Q&A, a dealer proposed a great question asking what can be done to set your dealership up for success in the future.
*The statements made in this video are for informational purposes only. You should always consult with your CPA to see what strategy would work best for your dealership.