November 18, 2025 • 25 mins
In this episode of the Teaching Tax Flow podcast, hosts John and Chris jump into the intricacies of the Section 179 deduction, a crucial topic for small and medium-sized businesses seeking tax advantages through immediate expense on qualifying property. The episode demystifies this often-confused segment of the tax code, ensuring business owners and tax professionals understand its application, eligibility, and strategic use in financial planning.
With vivid explanations, the conversation revolves around the distinction between Section 179 and bonus depreciation, the importance of electing into Section 179, and its application across various business entities. Chris shares relatable anecdotes from his travels and hands-on teaching experiences, further contextualizing these complex tax concepts. Through practical examples and thoughtful guidance, listeners will gain a robust understanding of how to leverage Section 179 to its fullest potential, whether dealing with tangible property or considering the timing of significant purchases.
Key Takeaways:
- Understanding Section 179: Section 179 allows businesses to immediately expense qualifying property, unlike bonus depreciation which applies automatically unless opted out.
- Eligibility and Limits: The 2025 maximum deduction is $2.5 million, indexed for inflation, with a phaseout beginning at $4 million in property purchases.
- Business Entity Implications: Decisions to elect Section 179 deductions occur at the entity level, affecting partnerships, S Corps, and sole proprietors differently.
- Strategic Planning: Using Section 179 can be advantageous for spreading tax deductions over multiple years, especially for businesses with cyclic equipment purchases.
- Bookkeeping Importance: Accurate bookkeeping is crucial for tax efficiency; distinguishing between leases and purchases can impact deductions significantly.
Resources
• Teaching Tax Flow Website
• Defeating Taxes Community
Episode Sponsor:
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Book a 30-minute complimentary discovery session at teachingtaxflow.com/legacy
(Mention Teaching Tax Flow for special pricing)
- (00:02) - Understanding Section 179 Deduction and Its Relevance
- (02:57) - Understanding Section 179 and Bonus Depreciation for Tax Benefits
- (06:09) - Tax Implications of Equipment and Vehicle Service Dates
- (08:04) - Maximizing Tax Benefits with Section 179 Deductions
- (13:50) - Understanding Section 179 Deductions for Business Owners
- (16:59) - The Importance of Accurate Bookkeeping for Effective Tax Planning
- (20:36) - Strategic Use of Section 179 Deduction in Business Tax Planning
- (23:09) - Exploring Tax Education and Community Engagement
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
John Tripolsky (00:02):
Hey, everybody, and welcome back to the Teaching
Tax Flow podcast episode 162. Weare gonna dive into the section
179 deduction. So if you don'tknow what it is, hang tight.
You're about to find out. Butnot before a brief, brief moment
to thank our episode sponsor.
Ad Read (00:23):
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John Tripolsky (00:47):
Alright, everyone. You're back here again
on the teaching tax flow podcastas you heard here in the
beginning. So we're gonna lookat that section one seventy
nine. So sure you've probablyheard this thing or maybe you
haven't, but you're about to.Actually, you just did, so
you're about to hear what it is.
And this is one of those thingswhere I don't know if there's a
lot of confusion around it or ifthere's just people know what it
(01:09):
is, but, you know, they theydon't I wouldn't say they don't
really care. They think it mightnot apply to them. So trust me,
you don't wanna hear it from me.Even though I have more hair on
my chin than my cohost has onhis head, that does not mean
that I have more knowledge. He'sway smarter and better looking.
So Chris Pacquero, welcome back,man. Let's let's dive into this
one.
Chris Picciurro, CPA (01:26):
Excited to dive in. I talk about section
one seventy nine. I just cameoff a grueling two week road
trip recently teaching taxseason updates for the National
Association of TaxProfessionals. You know, the I
love meeting with taxprofessionals all over the
country, John. I got to talk togo to Boise, Idaho.
(01:47):
Where did I where did I go to?Denver, Colorado. Got to teach
right here in the gorgeous stateof Tennessee, and my favorite
tax season update location. I'vedone this for three years.
Albuquerque, New Mexico.
Believe it or not, that has beenmy favorite place over the last
(02:08):
few years. Awesome people. Weactually have a fellow tax
professional that lives there,so I was able to catch up with
him. Why am I talking about allthis globetrotting? Because in
the globetrotting, I kind ofcame up with this this way of
explaining section one seventynine to tax professionals, and I
think we can all understand it.
It's the cousin of bonusdepreciation. So bonus
(02:31):
depreciation, we have somecontent on that. When you buy a
eligible fixed asset, a businessgets an immediate tax deduction,
but you have to elect out of it.So you just get it if you like
it or not or like out of it.Section one seventy nine, you if
you have eligible property, youcan get it, but you have to
elect into it.
So you've gotta raise your handand say, hey. I want section one
seventy nine. Now section oneseventy nine and bonus
(02:54):
appreciation can can be used inconcert together. So, we're
gonna dive into what that isbecause a lot of times people
are talking about section oneseventy nine and they have no
idea what the heck they'retalking about or they they don't
know half the time they don'tknow what they're talking about
but they don't realize they'retalking about it. So, like,
John, section two eighty AG.
Oh, the Augusta rule. So, aretalk, well, can I rent this? You
(03:17):
know, I I I can't I rent myhouse for my business so my dog
could, you know, do that like,no, no, no, don't misapply.
Ideas are cheap,implementation's valuable. So, a
lot of people in Teaching TaxesSold community, thank you to
everyone in the Defeating Taxesprivate Facebook group.
You are the really driver in alot of these topics. And so
(03:37):
they'll say, hey. If I buy a newvehicle, if I buy a piece of
machinery, do I get a deduction?So let's dive in section one
seventy nine. Now this has beenaround for a long time.
As long as I've been practicing,so over twenty years. However,
well, one big beautiful billact, as we've come to know and
love it, Obi three. I alwayssaid about, you know, in
(03:59):
teaching those classes, ifbecause I'm a big Star Wars
lover, so I like Obi three. Youknow, we got Obi Wan, Kenobi,
and c three PO. If they had ababy, oh, that wouldn't be
prettier, John.
But it would be called Obithree.
John Tripolsky (04:12):
You know what's awesome, though? It's like, you
know, we kinda jokingly talkabout that as, you know, it's
the cousin of bonus. But I thinkthat's a great way to explain
it. Right? And I would say thisto anybody that I mean, and this
is gonna come out wrong, but I'mgonna say it anyway.
So just knowing that it's gonnahappen. I think the assumption
that people are kind of I'd saythat they they kind of, inherit,
(04:36):
maybe is the word, as a as ataxpayer and that you have a tax
person, I am using the airquotes person, doing things for
them. You know, I think we justkinda say, oh, well, you know,
they got this. But I'm glad thatyou mentioned that that some
things, case in point, you haveto opt in, opt out of. It just
doesn't automatically happen.
Right? Like, if if you're doingyour own, like, say, you go the
DIY route, you think, again, airquotes, you have a simple tax
(05:00):
return because we know thatdoesn't exist. The IRS is never
gonna call you, right, and say,oh, you missed this. You may
want to elect for the or electout of. It's never gonna happen.
So we talk about complexity.This is a perfect, perfect
scenario where you really haveto know what plays with what and
how and opt in, opt outs, all ofthat. Right?
Chris Picciurro, CPA (05:19):
Right. And and the nice thing with section
one seventy nine now, let'sbonus depreciation, you get it
or you can elect out of it byasset class, but you that's it's
an all or nothing proposition.With one seventy nine, you can
elect into it, and you can electinto it for the exact dollar
amount that you want. So it'salmost like PLAY DOW. Right?
It's a Play Doh deduction. Youcan mold it into what you want.
(05:40):
Sometimes you don't wanna takeall of it. Sometimes you wanna
leave some for for later. So,yeah, section one seventy nine,
it allows businesses toimmediately expense qualifying
property in the year it's placedinto service.
Now that's very importanttaxpayers, especially as we roll
into this end of year. If, John,you bought a piece of equipment,
(06:01):
let's say you were back doingyour general contracting stuff,
woodworking and that sort ofstuff, and you said, man, I
really need a new lathe. Okay,you go put down a $10,000
deposit, but you don't takedelivery of the lathe until
January 13. That is not placedinto service until the next
(06:21):
year. So, you haven't put, justbecause you put a deposit on a
vehicle, a piece of equipmentdoesn't mean you placed it in
the service.
Placed it in the service meansit is being used and available
and that's a very importantdistinction.
John Tripolsky (06:33):
It I think I'm more impressed that you know
what the heck a
Chris Picciurro, CPA (06:35):
lay this, sir. I did not know this about
you. Up that we had to take homeeconomics in middle school and
shop. So we had I was in
John Tripolsky (06:44):
shop classes. Careful. They need to bring that
back
Chris Picciurro, CPA (06:46):
as a
John Tripolsky (06:47):
as a matter of fact. They if yeah. I mean, who
cares if you're missing a couplefingers by the time you
graduate? It builds character.
Chris Picciurro, CPA (06:53):
Oh god. Yeah. I I think our shop
teacher, the guy whose name wasmister Mitch. I think he he
almost had a stroke every timewe broke off the sander. You
know, you hit that butt.
It was like it was like going tothe grocery store when you have
the conveyor belt that So But,anyway so yeah. So I
John Tripolsky (07:07):
mean and and back to this. So you bring up
another really, really goodpoint. Right? So and and, you
know, obviously, we're both fromthe Detroit area. Right?
So and and I think automakersand dealerships do a really good
job of this. Right? Becausethey're not really pushing year
end to come buy a car. They'redoing preholiday stuff. Because
if they don't have it on thelot, you can order the darn
thing.
You could put the deposit on it,but until that sucker's rolling
(07:28):
down the rolling down the roadwith your temp tag or your
license plate on it, it's it'snot yours, frankly. So it
doesn't matter. And I don't knowwhere I heard this one. Right?
And it might I wouldn't even saywho it is because I can't
remember.
It has somebody with, like,purchasing a jet. I mean, the
extreme. Right? And they'relike, nope. I need it this year.
Well, as you know, you're notgonna go to most jet
manufacturers. And they say, oh,yeah. Take this one off the lot.
(07:50):
Here you go. It's December 15.
So you mentioned that withequipment, and that's a great
example. Right? Something thateven if you're using it in, like
cars, trucks, what are some ofthe other things that the
supplies do? Is there anythingthat you guys see a lot in the
private practice world?
Chris Picciurro, CPA (08:04):
Yeah. So well, it is a the section one
seventy nine is designed toincentivize small to medium
sized businesses to buy capitalassets. Before we dive in and
what are the eligible assettypes, I wanna remind people,
one of the three laws ofteaching tax flow is that cash
flow and tax flow are differentitems. So if you buy that lathe,
(08:25):
John, if you pay cash for thewhole thing or you finance 99%
of it, the deduction is thesame. The depreciation schedule
is the same.
So there is a big distinctionand that's something that could
be very confusing. So let's moveinto the maximum deduction. Then
we're gonna talk about eligibleproperty. Perfect. With OB
three, the maximum section oneseventy nine deduction was
(08:49):
raised to $2,500,000.
So it's a huge amount ofimmediate deduction a business
can take. And here's the nicething. It's indexed for
inflation. So it's on Santa'sgood list. Sometimes we get
these things that are notindexed for inflation.
I'll give you an example.Capital loss carryforward has
been 3,000 capital lossdeduction has been $3,000 for
(09:11):
Mary Joint forever. It never gotindexed for inflation. And the
so those are things. So this isindexed for inflation.
Now if a business invest morethan $4,000,000 in a year, then
you start losing that $2,500,000maximum deduction. So that's
called a phase out. Now thevast, vast majority of taxpayers
(09:34):
that take section one seventynine purchase much less than
$4,000,000 worth of assets, butthere is a dollar for dollar
reduction at that $4,000,000 oftotal assets. So this is this is
important, John. Let's say youare a, contractor.
Let's say you are a roofingcompany, and you are increasing
your fleet of of of trucks onthe road. You might want to if
(10:00):
you're getting close to a$4,000,000 of of new trucks or
new equipment, you might wannastagger that. You might want not
wanna take delivery until thenext year because then you could
phase out your section oneseventy nine deduction. So
there's Here's a
John Tripolsky (10:13):
curveball question for you, actually. And
this and this is this is anhonest to god scenario that I'm
thinking of, and tell me if saveit for later. So, obviously, you
know, I live in somewhere of arural area next to a city. There
was actually a guy I know whomentioned something about this
years ago. So, you know,agriculture equipment.
Some of it's extremelyexpensive. Like, if you think
(10:33):
Ferraris are expensive, go tryto run a a high yield farm, I
guess. And I remember him Idon't know what the dollar
amount was, but I remember himsaying it was, like, drastically
high. I mean, I'm guessingprobably, like, $8,000,000 or
something. So he had some andand tell me if this applies.
So say you lease something andthen you buy out a lease. Is it
(10:55):
still considered the same thing,or would that be a way to maybe
stagger it?
Chris Picciurro, CPA (11:01):
It depends. Depends on the capital
lease or operating lease. Sometechnical leases are considered
capital leases for tax purposes.So a lot of those are like our
friends that are long haultruckers. They actually lease
the trucks, but it's with a fiveyear lease with a dollar buyout.
That's considered it's legally alease. However, it's
(11:23):
technically, from a taxperspective, a capital lease,
and you depreciate it. So itreally depends on the facts and
circumstances.
John Tripolsky (11:29):
Okay. No. No. That's a and I I just I thought
of that one. I'm like, hey.
Maybe that would be a way tostagger some things if it's not,
you know, one item if it'smultiple. Right. Awesome. Now
that that's a great example evenbetter than mine with the
truckers. Like, you see most ofthem that I've ever known have
done that.
Chris Picciurro, CPA (11:43):
Oh, for sure. You've just got you've
gotta just plan around things.So what's out so in in now
permanently eligible are HVACsystems, roof, security systems,
fire alarms, those things areavailable on on commercial
property for section one seventynine. So any tangible personal
properties like off the shelfsoftware, QIP. So that's
(12:04):
qualified improvement propertyfor nonresidential real estate.
So that means, John, this helpedout a ton. I'll give you an
example. Think about arestaurant. So you got a
restaurant that puts leases theproperty to do a restaurant.
It's probably a million, millionand a half dollars of kitchen
equipment and build out.
Now that's all eligible. That isone seventy nine eligible
(12:25):
property. And it wasn't before?All that deduction year one
because maybe they don't need itall. Probably not.
But maybe they wanna take aportion of it if that makes
sense.
John Tripolsky (12:35):
Interesting. And you're right, man. I've I've
knowing people that have ownedrestaurants, I mean, you too.
You basically you rent or leasethe vanilla envelope. Right?
Chris Picciurro, CPA (12:42):
Mhmm.
John Tripolsky (12:43):
You know? So you are getting a box, and you gotta
put everything in it, and thatis kitchen equipment. Yeah.
There's a reason why they repothat stuff. They just don't let
it go if you don't No.
Chris Picciurro, CPA (12:53):
It's very it's very valuable, which ties
into this. It doesn't have to benew equipment. It could be new
or used equipment, assuming it'snot from a related part party.
So if you're starting arestaurant and a restaurant down
the street went out of businessand they've got you know, these
are super expensive, like afryer hood or something that you
could take out of their theirbox, like you say, the
(13:15):
restaurant and put it intoyours, or maybe it's it could be
anything. You know?
Then that's always rule forsection one seventy nine.
However, it has to be used morethan 50% for business, and
that's where things get stickywhen we're talking about
vehicles. But we're gonna runthrough some we're gonna run
through some short case studies.So who's so those are the those
(13:36):
are the assets that areeligible. That's what we call
eligible property.
Now who's eligible? Pretty muchall businesses. S corps, c
corps, partnerships, or LLCs,taxes partnerships, and sole
proprietors. But here's thesituation. The deduction is
elected on the entity level, butit passes through to owners when
(13:58):
you have a pass through entitylike an S Corp or or a multi
member LLC.
So, John, if you and I formed amulti member LLC and let's say
we wanted to mine Bitcoin and webought a $100,000 worth of of
computer equipment, we could theLLC would elect the the section
(14:21):
one seventy nine, and then wewould get that reflected on my k
one and your k one. You can'tget your k one and say, well,
I'm I'm electing section oneseventy nine on my half. And so
that's that's been one thing. Soif you're a business owner and
you have an s corp or taxed as apartnership or taxed as a c
corp, even though well, let'stake c corp out. Even though
that deduction ultimately flowson your personal tax return,
(14:45):
it's made at the entity level.
And be very aware because a lotof states don't allow for bonus
depreciation but do allow forsection one seventy nine. So
maybe a California because welike to talk about them a lot.
California doesn't allow bonusdepreciation, but allows section
one seventy nine. So if I've gota client that's in California, a
business owner, I might electout of bonus and elect into
(15:07):
seven one one seventy nine. Sothis is where planning comes
into play with your taxprofessional.
John Tripolsky (15:13):
And and and when you say planning too, just so so
if I heard you right there, justto kinda reiterate it. So you
said if we if we were partnersin a multi member LLC Right. The
decision to elect is made at theentity level. So it you can't
elect and me not in theory.Right?
Like, it comes down. There'slike you said, okay. So that so
that decision being made thereis final not final, but
(15:35):
hopefully hopefully, we talkenough to make the decision
together. But Yeah. It doesn'talways happen.
Chris Picciurro, CPA (15:40):
It's made at the entity level, and that's
where operating agreements couldbe important, you know, because
we wanna make sure that we knowwho has the authority to make
those tax matter decisions. Andmaybe you can't use the bonus
depreciation or the section 179and maybe I can because owners
apply their limits based ontheir share of the taxable
business income. So again, youmight be in three different S
(16:00):
Corps. You might be in threedifferent partnerships. So
sometimes, you know, you've gotyou definitely have to do that
planning when you're buyingfixed assets.
But one thing to give peoplesome peace of mind. This
election, although you plan yourfixed asset purchases before the
end of the year, the election ismade on a timely filed tax
(16:20):
return. So we don't have todecide today what our 2025
section one seventy ninededuction is. We can decide when
we prepare the tax return in2026.
John Tripolsky (16:29):
And I feel like this episode, Chris, and I mean
this wholeheartedly, I feel likethis may be one of the best ones
that we've done, maybe throughall of our episodes or if not,
you know, in at least the past20 or thirty, that really gives
a very abbreviated, but a behindthe scenes view of how tax
planning actually works. And notjust us saying like, hey. You
(16:51):
need to do this. Like, this is afantastic example. Right?
Because even if you're in well,here, let's be honest. Right?
And I will I will be verytransparent with this. Even
though I'm a business owner, Iam the worst freaking bookkeeper
on the entire planet, notbecause I don't know how to do
it because my mind's somewhereelse all the time. So even
something that is simple asthat, I realized that I cannot
(17:11):
be the one doing it.
And mine's very simple. But it'slike this. Right? Like, if
you're in the business, you mayput off thinking about something
like this for so long. But ifyou have somebody that you're
truly working with for taxplanning, they're always
thinking about this and helpingyou guide decisions along the
way, not at the end the road.
Right?
Chris Picciurro, CPA (17:29):
Well, that's the importance of
bookkeeping. Think about this,and then we're gonna finish up
on section one seventy nine.Let's say you try to do your own
bookkeeping. You purchase apiece of equipment, your CPA,
your tax professional, yourenrolled agent has no idea about
the equipment, but they couldlog in to your software, your
accounting software, and theypull out your profit and loss
(17:49):
statement. And on your profitand loss statement, they see an
expense that says, ChryslerFinancial, right?
I think Chrysler Financialexists. All of them have, you
know, have a subsidiary. Right?I don't know if that's eligible
section one seventy nineproperty. I don't know if it's a
(18:11):
lease payment.
I don't know if it's a purchase.I don't know how much the cost
of the vehicle was. All I see isyou put in auto expense Chrysler
Financial, which in your mind asa business owner, you're
thinking, yeah, that makessense. Right? That's my payment.
But from a tax perspective, isit a lease? Is it a purchase? Is
there depreciation? Is therepersonal use percentage? Is it
(18:32):
eligible for bonus appreciation?
Although there's a lot do wehave to do your balance sheet?
Did you trade in some othervehicle? And now you have a new
vehicle. And even though you'reself admittingly not a good
bookkeeper, without being abookkeeper and understanding how
those things affect your balancesheet and the balance sheet
affects your tax return, even ifyou're self employed, you should
(18:55):
have a balance sheet. If yourbalance sheet's right, your p
and l's right.
That's an old saying here. Sothat's a great example of
something innocent. You didn'tdo anything wrong by saying
Chrysler Financial is autoexpense because in a business
owner's mind, that's what it is.But when we're trying to do tax
projections, the first step ishave a good set of books so we
(19:17):
know what we're doing to projectwhere we're gonna be at. So
John Tripolsky (19:21):
And that's another great example you gave
there. Honestly, like, it's it'sso simple to most. Right? Like,
oh, of course, I know what itis. My tax professional, of
course, is gonna know what itis.
No. They're looking at hundreds,if not thousands of returns
every year. How in the world arethey gonna know that you went to
the dealership on April 27 andtraded in a vehicle, which we
(19:42):
won't even get into, you know,depreciation recapture. That's
one Favorite know why why I'mchuckling is because I I dropped
that one about three months agoand impressed this gentleman
right here.
Chris Picciurro, CPA (19:53):
Yes.
John Tripolsky (19:54):
But you're right. It's it's different
vantage points at the samething. However, they all need to
align in one way, shape, orform, or you're missing out.
It's not even like you're doinganything negligent. Right?
You're just missing out on hugeopportunities for savings. Huge.
Right?
Chris Picciurro, CPA (20:10):
Tying into, like, let's say your
section one seventy ninededuction. We know it's limited
to your taxable business income.So what happens and I've used
this strategy on s corp clientsmany, many times. Let me give
you an example. An SCorporation, let's say their
typical income is about $200,000a year.
Okay? But let's say that onceevery four or five years, they
need to buy a really big pieceof equipment. And that piece of
(20:33):
equipment is $800,000 I wouldlike to spread that out and wipe
out their income for the nextfour years. Bonus depreciation
isn't what I want. Iintentionally like section one
seventy nine on the entire pieceof equipment.
I can deduct $200,000 in theyear it's purchased. The
remaining $600,000 of section179 just gets carried forward on
(20:56):
the business tax return. So Iknow the next three years of
$200,000 of profit, I'm going tobe wiping it out. So you can use
a carry forward to section oneseventy nine strategically in in
that example. So so it's not,you know, everything is
situationally dependent and youbut we you have to think about
and and for in the client thatI'm talking about, they would
(21:19):
run that equipment in theground, and it was there really
wasn't a lot of value to it, youknow, when it when after four,
five years, they beat the heckout of it.
It was a piece of
John Tripolsky (21:29):
Well, like, take
Chris Picciurro, CPA (21:30):
the take
John Tripolsky (21:30):
it to the scrapyard, get your $600 and
Chris Picciurro, CPA (21:32):
Yeah. They they scrapped it. They got a few
few dollars, and then we couldpay the so, so anyway, think
about that. So section oneseventy nine does carry forward.
And then again, if the assetpurchases exceed the phaseout
limit, meaning the $4,000,000 in2025, then the deduction is
reduced dollar for dollar.
And so if you have over 6 and ahalf million dollars worth of
purchases in 2025, you will getno section one seventy nine.
John Tripolsky (21:58):
And when you say dollar for dollar, I know you
explained that, but really,could you explain that just
really, really briefly before weclose this out so you that cap
was was it was it 4,000,000? I'mso sorry. $4,000,000. Correct.
So 4,000,000.
So after that 4,000,000, whatwhat does dollar for dollar
actually mean for those that maynot know exactly?
Chris Picciurro, CPA (22:16):
That means that that for every dollar over
4,000,000, a dollar section oneseventy nine is phased out. So
let's look at an example. Let'ssay you've got a construction
firm. Let's make it easy intheir c corporations. We're not
worried about k ones.
Right? They bought 4 and a halfmillion dollars worth of
equipment in machinery in 2025.So they bought 4 and a half
million dollars. The limit's4,000,000 for 2025. That means
(22:40):
they're $500,000 over thephaseout amount.
Now typically, they can take 2and a half million dollars of
section one seventy ninededuction. Right? But because
they're $500,000 over the thethe $4,000,000 phase out, we
have to reduce their maximumsection one seventy nine
deduction by that same $500. Sotheir maximum section one
(23:01):
seventy nine is $2,000,000. Andthe remaining amount is still
depreciated, but just notimmediately.
John Tripolsky (23:09):
Perfect. Perfect. No. Thank you. Thank
you for explaining that.
I thought I had an idea what itwas. It was pretty close, but I
figured it's good to explainthat. But no. This was awesome,
man. Honestly, this is probablyone of my favorite ones that
we've done in a very long time.
Chris Picciurro, CPA (23:22):
Well, now we're gonna get you Nice. We're
gonna get you a a sticker thatI'm gonna put on your computer.
And when you open it up at nexttime you're at a coffee shop,
you're gonna forget about it,and it's gonna say, ask me about
Section 179.
John Tripolsky (23:34):
I'm gonna have all these people coming up to me
like, you don't care. Just pushplay. I'm gonna send you the QR
code. You can listen to thispodcast. It'll be fantastic.
But and, you know, no stickerson my computer, sir. It's a Mac.
You know I, like, wax thisthing. I know. You you I say
that because Chris, everybody isa is a he's a PC guy, which you
guys should be in your industry.
You don't wanna get too tooMacky. Although I did get you on
(23:55):
convinced to an iPhone and anApple Watch. So we'll leave it
at that. Anything else we wannaadd to this one before we
release everybody back to theirnormal lives?
Chris Picciurro, CPA (24:04):
For the thank you for being part of the
teaching tax slow community. Ifyou found this valuable, just
subscribe, like, share. Thecontent is driven by you, the
teaching tax slow community, andthe more interaction we get, the
better. We don't charge for thispodcast. We don't have upsells
for this podcast.
(24:24):
We're very blessed to havesponsors that allow us to do
this, but we do it for you, thelisteners and watchers.
John Tripolsky (24:30):
Awesome. Awesome. It's a good way to end
it. So, hopefully, everybody,you did enjoy this as well. If
you're listening to this, don'tforget that you can actually
watch me and Chris harass eachother back and forth.
And then when we have a guest,we tend to harass them a little
bit, on YouTube. So check it outon there. God. We have 650 some
odd videos on there. Tons ofthem.
Quick tip reels, usually aboutsixty, seventy seconds, as well
(24:52):
as all these podcasts. So checkthose out. We'll see if we'll be
back here again next week on theTeaching Tax Flow podcast. Have
a great week.
Disclaimer (25:03):
The content provided is for educational purposes
only. We encourage you to seekpersonalized investment advice
from your financialprofessional. For all tax and
legal advice, please consultyour CPA or attorney. Investment
advisory services are offeredthrough Cabin Advisors, a
registered investment advisor.Securities are offered through
Cabin Securities, a registeredbroker dealer.
The content of this podcast doesnot constitute an offer of
(25:24):
securities. Offerings can onlybe made through an offering
memorandum, and you shouldcarefully examine the risk
factors and other informationcontained in the memorandum.
Hey, everybody, and welcome back to the Teaching
Tax Flow podcast episode 162. Weare gonna dive into the section
179 deduction. So if you don'tknow what it is, hang tight.
You're about to find out. Butnot before a brief, brief moment
to thank our episode sponsor.
Ad Read (00:23):
This podcast is brought to you by Legacy Lock. If you
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is a unique platform thatenables you to easily complete
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John Tripolsky (00:47):
Alright, everyone. You're back here again
on the teaching tax flow podcastas you heard here in the
beginning. So we're gonna lookat that section one seventy
nine. So sure you've probablyheard this thing or maybe you
haven't, but you're about to.Actually, you just did, so
you're about to hear what it is.
And this is one of those thingswhere I don't know if there's a
lot of confusion around it or ifthere's just people know what it
(01:09):
is, but, you know, they theydon't I wouldn't say they don't
really care. They think it mightnot apply to them. So trust me,
you don't wanna hear it from me.Even though I have more hair on
my chin than my cohost has onhis head, that does not mean
that I have more knowledge. He'sway smarter and better looking.
So Chris Pacquero, welcome back,man. Let's let's dive into this
one.
Chris Picciurro, CPA (01:26):
Excited to dive in. I talk about section
one seventy nine. I just cameoff a grueling two week road
trip recently teaching taxseason updates for the National
Association of TaxProfessionals. You know, the I
love meeting with taxprofessionals all over the
country, John. I got to talk togo to Boise, Idaho.
(01:47):
Where did I where did I go to?Denver, Colorado. Got to teach
right here in the gorgeous stateof Tennessee, and my favorite
tax season update location. I'vedone this for three years.
Albuquerque, New Mexico.
Believe it or not, that has beenmy favorite place over the last
(02:08):
few years. Awesome people. Weactually have a fellow tax
professional that lives there,so I was able to catch up with
him. Why am I talking about allthis globetrotting? Because in
the globetrotting, I kind ofcame up with this this way of
explaining section one seventynine to tax professionals, and I
think we can all understand it.
It's the cousin of bonusdepreciation. So bonus
(02:31):
depreciation, we have somecontent on that. When you buy a
eligible fixed asset, a businessgets an immediate tax deduction,
but you have to elect out of it.So you just get it if you like
it or not or like out of it.Section one seventy nine, you if
you have eligible property, youcan get it, but you have to
elect into it.
So you've gotta raise your handand say, hey. I want section one
seventy nine. Now section oneseventy nine and bonus
(02:54):
appreciation can can be used inconcert together. So, we're
gonna dive into what that isbecause a lot of times people
are talking about section oneseventy nine and they have no
idea what the heck they'retalking about or they they don't
know half the time they don'tknow what they're talking about
but they don't realize they'retalking about it. So, like,
John, section two eighty AG.
Oh, the Augusta rule. So, aretalk, well, can I rent this? You
(03:17):
know, I I I can't I rent myhouse for my business so my dog
could, you know, do that like,no, no, no, don't misapply.
Ideas are cheap,implementation's valuable. So, a
lot of people in Teaching TaxesSold community, thank you to
everyone in the Defeating Taxesprivate Facebook group.
You are the really driver in alot of these topics. And so
(03:37):
they'll say, hey. If I buy a newvehicle, if I buy a piece of
machinery, do I get a deduction?So let's dive in section one
seventy nine. Now this has beenaround for a long time.
As long as I've been practicing,so over twenty years. However,
well, one big beautiful billact, as we've come to know and
love it, Obi three. I alwayssaid about, you know, in
(03:59):
teaching those classes, ifbecause I'm a big Star Wars
lover, so I like Obi three. Youknow, we got Obi Wan, Kenobi,
and c three PO. If they had ababy, oh, that wouldn't be
prettier, John.
But it would be called Obithree.
John Tripolsky (04:12):
You know what's awesome, though? It's like, you
know, we kinda jokingly talkabout that as, you know, it's
the cousin of bonus. But I thinkthat's a great way to explain
it. Right? And I would say thisto anybody that I mean, and this
is gonna come out wrong, but I'mgonna say it anyway.
So just knowing that it's gonnahappen. I think the assumption
that people are kind of I'd saythat they they kind of, inherit,
(04:36):
maybe is the word, as a as ataxpayer and that you have a tax
person, I am using the airquotes person, doing things for
them. You know, I think we justkinda say, oh, well, you know,
they got this. But I'm glad thatyou mentioned that that some
things, case in point, you haveto opt in, opt out of. It just
doesn't automatically happen.
Right? Like, if if you're doingyour own, like, say, you go the
DIY route, you think, again, airquotes, you have a simple tax
(05:00):
return because we know thatdoesn't exist. The IRS is never
gonna call you, right, and say,oh, you missed this. You may
want to elect for the or electout of. It's never gonna happen.
So we talk about complexity.This is a perfect, perfect
scenario where you really haveto know what plays with what and
how and opt in, opt outs, all ofthat. Right?
Chris Picciurro, CPA (05:19):
Right. And and the nice thing with section
one seventy nine now, let'sbonus depreciation, you get it
or you can elect out of it byasset class, but you that's it's
an all or nothing proposition.With one seventy nine, you can
elect into it, and you can electinto it for the exact dollar
amount that you want. So it'salmost like PLAY DOW. Right?
It's a Play Doh deduction. Youcan mold it into what you want.
(05:40):
Sometimes you don't wanna takeall of it. Sometimes you wanna
leave some for for later. So,yeah, section one seventy nine,
it allows businesses toimmediately expense qualifying
property in the year it's placedinto service.
Now that's very importanttaxpayers, especially as we roll
into this end of year. If, John,you bought a piece of equipment,
(06:01):
let's say you were back doingyour general contracting stuff,
woodworking and that sort ofstuff, and you said, man, I
really need a new lathe. Okay,you go put down a $10,000
deposit, but you don't takedelivery of the lathe until
January 13. That is not placedinto service until the next
(06:21):
year. So, you haven't put, justbecause you put a deposit on a
vehicle, a piece of equipmentdoesn't mean you placed it in
the service.
Placed it in the service meansit is being used and available
and that's a very importantdistinction.
John Tripolsky (06:33):
It I think I'm more impressed that you know
what the heck a
Chris Picciurro, CPA (06:35):
lay this, sir. I did not know this about
you. Up that we had to take homeeconomics in middle school and
shop. So we had I was in
John Tripolsky (06:44):
shop classes. Careful. They need to bring that
back
Chris Picciurro, CPA (06:46):
as a
John Tripolsky (06:47):
as a matter of fact. They if yeah. I mean, who
cares if you're missing a couplefingers by the time you
graduate? It builds character.
Chris Picciurro, CPA (06:53):
Oh god. Yeah. I I think our shop
teacher, the guy whose name wasmister Mitch. I think he he
almost had a stroke every timewe broke off the sander. You
know, you hit that butt.
It was like it was like going tothe grocery store when you have
the conveyor belt that So But,anyway so yeah. So I
John Tripolsky (07:07):
mean and and back to this. So you bring up
another really, really goodpoint. Right? So and and, you
know, obviously, we're both fromthe Detroit area. Right?
So and and I think automakersand dealerships do a really good
job of this. Right? Becausethey're not really pushing year
end to come buy a car. They'redoing preholiday stuff. Because
if they don't have it on thelot, you can order the darn
thing.
You could put the deposit on it,but until that sucker's rolling
(07:28):
down the rolling down the roadwith your temp tag or your
license plate on it, it's it'snot yours, frankly. So it
doesn't matter. And I don't knowwhere I heard this one. Right?
And it might I wouldn't even saywho it is because I can't
remember.
It has somebody with, like,purchasing a jet. I mean, the
extreme. Right? And they'relike, nope. I need it this year.
Well, as you know, you're notgonna go to most jet
manufacturers. And they say, oh,yeah. Take this one off the lot.
(07:50):
Here you go. It's December 15.
So you mentioned that withequipment, and that's a great
example. Right? Something thateven if you're using it in, like
cars, trucks, what are some ofthe other things that the
supplies do? Is there anythingthat you guys see a lot in the
private practice world?
Chris Picciurro, CPA (08:04):
Yeah. So well, it is a the section one
seventy nine is designed toincentivize small to medium
sized businesses to buy capitalassets. Before we dive in and
what are the eligible assettypes, I wanna remind people,
one of the three laws ofteaching tax flow is that cash
flow and tax flow are differentitems. So if you buy that lathe,
(08:25):
John, if you pay cash for thewhole thing or you finance 99%
of it, the deduction is thesame. The depreciation schedule
is the same.
So there is a big distinctionand that's something that could
be very confusing. So let's moveinto the maximum deduction. Then
we're gonna talk about eligibleproperty. Perfect. With OB
three, the maximum section oneseventy nine deduction was
(08:49):
raised to $2,500,000.
So it's a huge amount ofimmediate deduction a business
can take. And here's the nicething. It's indexed for
inflation. So it's on Santa'sgood list. Sometimes we get
these things that are notindexed for inflation.
I'll give you an example.Capital loss carryforward has
been 3,000 capital lossdeduction has been $3,000 for
(09:11):
Mary Joint forever. It never gotindexed for inflation. And the
so those are things. So this isindexed for inflation.
Now if a business invest morethan $4,000,000 in a year, then
you start losing that $2,500,000maximum deduction. So that's
called a phase out. Now thevast, vast majority of taxpayers
(09:34):
that take section one seventynine purchase much less than
$4,000,000 worth of assets, butthere is a dollar for dollar
reduction at that $4,000,000 oftotal assets. So this is this is
important, John. Let's say youare a, contractor.
Let's say you are a roofingcompany, and you are increasing
your fleet of of of trucks onthe road. You might want to if
(10:00):
you're getting close to a$4,000,000 of of new trucks or
new equipment, you might wannastagger that. You might want not
wanna take delivery until thenext year because then you could
phase out your section oneseventy nine deduction. So
there's Here's a
John Tripolsky (10:13):
curveball question for you, actually. And
this and this is this is anhonest to god scenario that I'm
thinking of, and tell me if saveit for later. So, obviously, you
know, I live in somewhere of arural area next to a city. There
was actually a guy I know whomentioned something about this
years ago. So, you know,agriculture equipment.
Some of it's extremelyexpensive. Like, if you think
(10:33):
Ferraris are expensive, go tryto run a a high yield farm, I
guess. And I remember him Idon't know what the dollar
amount was, but I remember himsaying it was, like, drastically
high. I mean, I'm guessingprobably, like, $8,000,000 or
something. So he had some andand tell me if this applies.
So say you lease something andthen you buy out a lease. Is it
(10:55):
still considered the same thing,or would that be a way to maybe
stagger it?
Chris Picciurro, CPA (11:01):
It depends. Depends on the capital
lease or operating lease. Sometechnical leases are considered
capital leases for tax purposes.So a lot of those are like our
friends that are long haultruckers. They actually lease
the trucks, but it's with a fiveyear lease with a dollar buyout.
That's considered it's legally alease. However, it's
(11:23):
technically, from a taxperspective, a capital lease,
and you depreciate it. So itreally depends on the facts and
circumstances.
John Tripolsky (11:29):
Okay. No. No. That's a and I I just I thought
of that one. I'm like, hey.
Maybe that would be a way tostagger some things if it's not,
you know, one item if it'smultiple. Right. Awesome. Now
that that's a great example evenbetter than mine with the
truckers. Like, you see most ofthem that I've ever known have
done that.
Chris Picciurro, CPA (11:43):
Oh, for sure. You've just got you've
gotta just plan around things.So what's out so in in now
permanently eligible are HVACsystems, roof, security systems,
fire alarms, those things areavailable on on commercial
property for section one seventynine. So any tangible personal
properties like off the shelfsoftware, QIP. So that's
(12:04):
qualified improvement propertyfor nonresidential real estate.
So that means, John, this helpedout a ton. I'll give you an
example. Think about arestaurant. So you got a
restaurant that puts leases theproperty to do a restaurant.
It's probably a million, millionand a half dollars of kitchen
equipment and build out.
Now that's all eligible. That isone seventy nine eligible
(12:25):
property. And it wasn't before?All that deduction year one
because maybe they don't need itall. Probably not.
But maybe they wanna take aportion of it if that makes
sense.
John Tripolsky (12:35):
Interesting. And you're right, man. I've I've
knowing people that have ownedrestaurants, I mean, you too.
You basically you rent or leasethe vanilla envelope. Right?
Chris Picciurro, CPA (12:42):
Mhmm.
John Tripolsky (12:43):
You know? So you are getting a box, and you gotta
put everything in it, and thatis kitchen equipment. Yeah.
There's a reason why they repothat stuff. They just don't let
it go if you don't No.
Chris Picciurro, CPA (12:53):
It's very it's very valuable, which ties
into this. It doesn't have to benew equipment. It could be new
or used equipment, assuming it'snot from a related part party.
So if you're starting arestaurant and a restaurant down
the street went out of businessand they've got you know, these
are super expensive, like afryer hood or something that you
could take out of their theirbox, like you say, the
(13:15):
restaurant and put it intoyours, or maybe it's it could be
anything. You know?
Then that's always rule forsection one seventy nine.
However, it has to be used morethan 50% for business, and
that's where things get stickywhen we're talking about
vehicles. But we're gonna runthrough some we're gonna run
through some short case studies.So who's so those are the those
(13:36):
are the assets that areeligible. That's what we call
eligible property.
Now who's eligible? Pretty muchall businesses. S corps, c
corps, partnerships, or LLCs,taxes partnerships, and sole
proprietors. But here's thesituation. The deduction is
elected on the entity level, butit passes through to owners when
(13:58):
you have a pass through entitylike an S Corp or or a multi
member LLC.
So, John, if you and I formed amulti member LLC and let's say
we wanted to mine Bitcoin and webought a $100,000 worth of of
computer equipment, we could theLLC would elect the the section
(14:21):
one seventy nine, and then wewould get that reflected on my k
one and your k one. You can'tget your k one and say, well,
I'm I'm electing section oneseventy nine on my half. And so
that's that's been one thing. Soif you're a business owner and
you have an s corp or taxed as apartnership or taxed as a c
corp, even though well, let'stake c corp out. Even though
that deduction ultimately flowson your personal tax return,
(14:45):
it's made at the entity level.
And be very aware because a lotof states don't allow for bonus
depreciation but do allow forsection one seventy nine. So
maybe a California because welike to talk about them a lot.
California doesn't allow bonusdepreciation, but allows section
one seventy nine. So if I've gota client that's in California, a
business owner, I might electout of bonus and elect into
(15:07):
seven one one seventy nine. Sothis is where planning comes
into play with your taxprofessional.
John Tripolsky (15:13):
And and and when you say planning too, just so so
if I heard you right there, justto kinda reiterate it. So you
said if we if we were partnersin a multi member LLC Right. The
decision to elect is made at theentity level. So it you can't
elect and me not in theory.Right?
Like, it comes down. There'slike you said, okay. So that so
that decision being made thereis final not final, but
(15:35):
hopefully hopefully, we talkenough to make the decision
together. But Yeah. It doesn'talways happen.
Chris Picciurro, CPA (15:40):
It's made at the entity level, and that's
where operating agreements couldbe important, you know, because
we wanna make sure that we knowwho has the authority to make
those tax matter decisions. Andmaybe you can't use the bonus
depreciation or the section 179and maybe I can because owners
apply their limits based ontheir share of the taxable
business income. So again, youmight be in three different S
(16:00):
Corps. You might be in threedifferent partnerships. So
sometimes, you know, you've gotyou definitely have to do that
planning when you're buyingfixed assets.
But one thing to give peoplesome peace of mind. This
election, although you plan yourfixed asset purchases before the
end of the year, the election ismade on a timely filed tax
(16:20):
return. So we don't have todecide today what our 2025
section one seventy ninededuction is. We can decide when
we prepare the tax return in2026.
John Tripolsky (16:29):
And I feel like this episode, Chris, and I mean
this wholeheartedly, I feel likethis may be one of the best ones
that we've done, maybe throughall of our episodes or if not,
you know, in at least the past20 or thirty, that really gives
a very abbreviated, but a behindthe scenes view of how tax
planning actually works. And notjust us saying like, hey. You
(16:51):
need to do this. Like, this is afantastic example. Right?
Because even if you're in well,here, let's be honest. Right?
And I will I will be verytransparent with this. Even
though I'm a business owner, Iam the worst freaking bookkeeper
on the entire planet, notbecause I don't know how to do
it because my mind's somewhereelse all the time. So even
something that is simple asthat, I realized that I cannot
(17:11):
be the one doing it.
And mine's very simple. But it'slike this. Right? Like, if
you're in the business, you mayput off thinking about something
like this for so long. But ifyou have somebody that you're
truly working with for taxplanning, they're always
thinking about this and helpingyou guide decisions along the
way, not at the end the road.
Right?
Chris Picciurro, CPA (17:29):
Well, that's the importance of
bookkeeping. Think about this,and then we're gonna finish up
on section one seventy nine.Let's say you try to do your own
bookkeeping. You purchase apiece of equipment, your CPA,
your tax professional, yourenrolled agent has no idea about
the equipment, but they couldlog in to your software, your
accounting software, and theypull out your profit and loss
(17:49):
statement. And on your profitand loss statement, they see an
expense that says, ChryslerFinancial, right?
I think Chrysler Financialexists. All of them have, you
know, have a subsidiary. Right?I don't know if that's eligible
section one seventy nineproperty. I don't know if it's a
(18:11):
lease payment.
I don't know if it's a purchase.I don't know how much the cost
of the vehicle was. All I see isyou put in auto expense Chrysler
Financial, which in your mind asa business owner, you're
thinking, yeah, that makessense. Right? That's my payment.
But from a tax perspective, isit a lease? Is it a purchase? Is
there depreciation? Is therepersonal use percentage? Is it
(18:32):
eligible for bonus appreciation?
Although there's a lot do wehave to do your balance sheet?
Did you trade in some othervehicle? And now you have a new
vehicle. And even though you'reself admittingly not a good
bookkeeper, without being abookkeeper and understanding how
those things affect your balancesheet and the balance sheet
affects your tax return, even ifyou're self employed, you should
(18:55):
have a balance sheet. If yourbalance sheet's right, your p
and l's right.
That's an old saying here. Sothat's a great example of
something innocent. You didn'tdo anything wrong by saying
Chrysler Financial is autoexpense because in a business
owner's mind, that's what it is.But when we're trying to do tax
projections, the first step ishave a good set of books so we
(19:17):
know what we're doing to projectwhere we're gonna be at. So
John Tripolsky (19:21):
And that's another great example you gave
there. Honestly, like, it's it'sso simple to most. Right? Like,
oh, of course, I know what itis. My tax professional, of
course, is gonna know what itis.
No. They're looking at hundreds,if not thousands of returns
every year. How in the world arethey gonna know that you went to
the dealership on April 27 andtraded in a vehicle, which we
(19:42):
won't even get into, you know,depreciation recapture. That's
one Favorite know why why I'mchuckling is because I I dropped
that one about three months agoand impressed this gentleman
right here.
Chris Picciurro, CPA (19:53):
Yes.
John Tripolsky (19:54):
But you're right. It's it's different
vantage points at the samething. However, they all need to
align in one way, shape, orform, or you're missing out.
It's not even like you're doinganything negligent. Right?
You're just missing out on hugeopportunities for savings. Huge.
Right?
Chris Picciurro, CPA (20:10):
Tying into, like, let's say your
section one seventy ninededuction. We know it's limited
to your taxable business income.So what happens and I've used
this strategy on s corp clientsmany, many times. Let me give
you an example. An SCorporation, let's say their
typical income is about $200,000a year.
Okay? But let's say that onceevery four or five years, they
need to buy a really big pieceof equipment. And that piece of
(20:33):
equipment is $800,000 I wouldlike to spread that out and wipe
out their income for the nextfour years. Bonus depreciation
isn't what I want. Iintentionally like section one
seventy nine on the entire pieceof equipment.
I can deduct $200,000 in theyear it's purchased. The
remaining $600,000 of section179 just gets carried forward on
(20:56):
the business tax return. So Iknow the next three years of
$200,000 of profit, I'm going tobe wiping it out. So you can use
a carry forward to section oneseventy nine strategically in in
that example. So so it's not,you know, everything is
situationally dependent and youbut we you have to think about
and and for in the client thatI'm talking about, they would
(21:19):
run that equipment in theground, and it was there really
wasn't a lot of value to it, youknow, when it when after four,
five years, they beat the heckout of it.
It was a piece of
John Tripolsky (21:29):
Well, like, take
Chris Picciurro, CPA (21:30):
the take
John Tripolsky (21:30):
it to the scrapyard, get your $600 and
Chris Picciurro, CPA (21:32):
Yeah. They they scrapped it. They got a few
few dollars, and then we couldpay the so, so anyway, think
about that. So section oneseventy nine does carry forward.
And then again, if the assetpurchases exceed the phaseout
limit, meaning the $4,000,000 in2025, then the deduction is
reduced dollar for dollar.
And so if you have over 6 and ahalf million dollars worth of
purchases in 2025, you will getno section one seventy nine.
John Tripolsky (21:58):
And when you say dollar for dollar, I know you
explained that, but really,could you explain that just
really, really briefly before weclose this out so you that cap
was was it was it 4,000,000? I'mso sorry. $4,000,000. Correct.
So 4,000,000.
So after that 4,000,000, whatwhat does dollar for dollar
actually mean for those that maynot know exactly?
Chris Picciurro, CPA (22:16):
That means that that for every dollar over
4,000,000, a dollar section oneseventy nine is phased out. So
let's look at an example. Let'ssay you've got a construction
firm. Let's make it easy intheir c corporations. We're not
worried about k ones.
Right? They bought 4 and a halfmillion dollars worth of
equipment in machinery in 2025.So they bought 4 and a half
million dollars. The limit's4,000,000 for 2025. That means
(22:40):
they're $500,000 over thephaseout amount.
Now typically, they can take 2and a half million dollars of
section one seventy ninededuction. Right? But because
they're $500,000 over the thethe $4,000,000 phase out, we
have to reduce their maximumsection one seventy nine
deduction by that same $500. Sotheir maximum section one
(23:01):
seventy nine is $2,000,000. Andthe remaining amount is still
depreciated, but just notimmediately.
John Tripolsky (23:09):
Perfect. Perfect. No. Thank you. Thank
you for explaining that.
I thought I had an idea what itwas. It was pretty close, but I
figured it's good to explainthat. But no. This was awesome,
man. Honestly, this is probablyone of my favorite ones that
we've done in a very long time.
Chris Picciurro, CPA (23:22):
Well, now we're gonna get you Nice. We're
gonna get you a a sticker thatI'm gonna put on your computer.
And when you open it up at nexttime you're at a coffee shop,
you're gonna forget about it,and it's gonna say, ask me about
Section 179.
John Tripolsky (23:34):
I'm gonna have all these people coming up to me
like, you don't care. Just pushplay. I'm gonna send you the QR
code. You can listen to thispodcast. It'll be fantastic.
But and, you know, no stickerson my computer, sir. It's a Mac.
You know I, like, wax thisthing. I know. You you I say
that because Chris, everybody isa is a he's a PC guy, which you
guys should be in your industry.
You don't wanna get too tooMacky. Although I did get you on
(23:55):
convinced to an iPhone and anApple Watch. So we'll leave it
at that. Anything else we wannaadd to this one before we
release everybody back to theirnormal lives?
Chris Picciurro, CPA (24:04):
For the thank you for being part of the
teaching tax slow community. Ifyou found this valuable, just
subscribe, like, share. Thecontent is driven by you, the
teaching tax slow community, andthe more interaction we get, the
better. We don't charge for thispodcast. We don't have upsells
for this podcast.
(24:24):
We're very blessed to havesponsors that allow us to do
this, but we do it for you, thelisteners and watchers.
John Tripolsky (24:30):
Awesome. Awesome. It's a good way to end
it. So, hopefully, everybody,you did enjoy this as well. If
you're listening to this, don'tforget that you can actually
watch me and Chris harass eachother back and forth.
And then when we have a guest,we tend to harass them a little
bit, on YouTube. So check it outon there. God. We have 650 some
odd videos on there. Tons ofthem.
Quick tip reels, usually aboutsixty, seventy seconds, as well
(24:52):
as all these podcasts. So checkthose out. We'll see if we'll be
back here again next week on theTeaching Tax Flow podcast. Have
a great week.
Disclaimer (25:03):
The content provided is for educational purposes
only. We encourage you to seekpersonalized investment advice
from your financialprofessional. For all tax and
legal advice, please consultyour CPA or attorney. Investment
advisory services are offeredthrough Cabin Advisors, a
registered investment advisor.Securities are offered through
Cabin Securities, a registeredbroker dealer.
The content of this podcast doesnot constitute an offer of
(25:24):
securities. Offerings can onlybe made through an offering
memorandum, and you shouldcarefully examine the risk
factors and other informationcontained in the memorandum.
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