ilmscore | Prediction Details
"depreciation is something that the banks add back so for example let's say you had $100,000 in profit for your business but you had a $100,000 deduction in depreciation your taxes show zero income but if you provide that tax return and that financial statement to lenders the mortgage officers and the banks know that they can add back depreciation to qualify you for financing"
By Minority Mindset | June 9, 2024 | Pending
From video
How Rich People Use Debt & Taxes To Get Rich(er) 00:41:00 - 00:41:25
Interpreted Prediction
While depreciation deductions reduce taxable income, banks add it back when calculating loan eligibility, allowing businesses to save on taxes and still qualify for financing.

Prediction Details

Topic
Depreciation as a Tax Benefit for Lenders

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