Using depreciation to plan for recessionary pressures
In his latest piece in Accounting Today, Dave McGuire discusses how businesses and professionals who plan for a recession will not only be able to weather these changes but also may be in a position to capitalize on opportunities as they present themselves.
Having access to cash could allow a business to pay down debt in preparation for a slowing business market. It also enables a business to be adaptable, to weather the economic downturn but also to potentially expand operations.
David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel. McGuire continues to grow McGuire Sponsel’s national presence in cost segregation and depreciation.
He is the primary resource for alliance firms in regards to how tax law affects depreciation. His knowledge in determining asset costs and classifications has held up against IRS scrutiny and has built the firm into a trusted industry resource.