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Video instructions and help with filling out and completing Form 2220 Depreciated

Instructions and Help about Form 2220 Depreciated

In this video, we're gonna talk about what section 179 is, how it works, and why it's important for you to know about it if you have your own business. Make sure to watch this whole video from start to finish because in this video, I'll be showing you some examples on-screen of how this deduction works and how you might be able to reduce your taxable income. What's up guys, it's Mike and Shepper. If you're new to this channel, I just want to take a moment and say welcome. I highly consider subscribing because every single week on this channel, I produce new videos that will help you with your finances, taxes, investments, career, and everyday life. Okay guys, today I'm going to attempt something crazy, which is to try to explain the section 179 deduction in plain English. This video is actually requested by one of the subscribers of this channel, so Jeff, my brother, is going to give you a big shout out and say thank you for recommending this topic. This is a very cool tax topic to be talking about. It's often very complicated, but I'm going to try to break it down into plain English. Obviously guys, I can't take every request that you guys give me, but I felt that this was a really important tax topic for you to know about, especially if you own your own business or someday you think you're thinking of starting your own business. This can really help you. And if you're not an accountant, I understand. A lot of you who watch this channel are not accountants. So why should you even watch this? Well, if you really want to know some of the tax deductions business owners have, this is one of the best ones to know about. So...