[Editor’s note: Jessie Pepper is a partner and CPA with Wheeler, Pepper and Company is guest blogging on SiteSteward.com]
Looking for end of the year tax deductions?
Why spend frivolously on something that is not going to generate revenue? Seventeen years as a tax professional, I have seen many clients spend money on useless items for their business.
Traditional thought is to invest into equipment of spend your money on upcoming bills, only to steal from the next year’s deductions. My thoughts are to focus on growth of your business.
How do you capture future market share and new customers? Spend your year end dollars on marketing. No not your typical marketing, television or radio, but on your website. This is a great time to launch a new site or improved site. New content or branding can take your business into new markets and gain you access to a future stream of revenue. Your website and internet presence is the “new” phone book and the only way to find you in today’s world.
My advice is, as you consider spending for your end of year tax deductions this year; consider options that have future value and not a depreciable value or no value after purchase.
Jessie K Pepper CPA