Are you missing legitimate tax breaks because you don’t keep good records? Often business owners look at taxes as something to avoid like the pledge, but it’s really not the worst thing in the world. Don’t spend money to save money when it comes to taxes. Tax avoidance is healthy for any business, unless your spending more money than necessary.
A few questions to mull over before making a purchase to avoid tax:
Can you afford it?
Do you need it for your business?
Are you saving enough to make it worth spending more?
Instead of trying to spend your way out of paying taxes, be informed throughout the year. Develop a bookkeeping system that allows you to captures more tax breaks. Record keeping is vital to every business because it could save you money.
You should never spend money to save money on taxes, unless the item being bought is necessary and there is an actual need.
Having a great bookkeeping system in place allows for accurate information to be at your fingertips always. Being informed allows you as business owner to make purchases you need to grow your business throughout the year.
Good records allows your CPA to find possible tax breaks for your business. As a bookkeeper, I strive to help businesses prepare for tax time. I also work directly with your CPA, so you don’t have to face it alone.
To learn more about what I do, visit my webpage www.thegrowthkeeper.com
