moose
Veteran Expediter
A common mistake made by small business owners , is waiting till tax time or year end to do the annual business breakdown .
when it is too late to make an impact on ones tax obligation .
the main advantage of the 3rd quarter P&L ,and Year to date, is to allow investment in the business doing this tax year , and saving on taxes owed - only a few months down the road .
make no mistake , spending money - to save on taxes , is never a good business practice .
but investing a needed investment in the business , and having the option to choose the tax year in which it will apply for , give the owner a point of advantage over it's competition .
this is more so important for a Team with a payed for , well maintained equipment .
understanding your expected tax obligation , can allow you , for example to more easily except long holidays time off in the 4th quarter.
if you are expected to buy new equipment , replace , upgrade , or sell ,
the 3rd quarter P/L is a place to start , so you can decide on the tax year that the above will apply for.
so,,,
get your ducks in a raw , and post them here below , let us know if and why , you are investing in your business this year , or waiting till next spring .
when it is too late to make an impact on ones tax obligation .
the main advantage of the 3rd quarter P&L ,and Year to date, is to allow investment in the business doing this tax year , and saving on taxes owed - only a few months down the road .
make no mistake , spending money - to save on taxes , is never a good business practice .
but investing a needed investment in the business , and having the option to choose the tax year in which it will apply for , give the owner a point of advantage over it's competition .
this is more so important for a Team with a payed for , well maintained equipment .
understanding your expected tax obligation , can allow you , for example to more easily except long holidays time off in the 4th quarter.
if you are expected to buy new equipment , replace , upgrade , or sell ,
the 3rd quarter P/L is a place to start , so you can decide on the tax year that the above will apply for.
so,,,
get your ducks in a raw , and post them here below , let us know if and why , you are investing in your business this year , or waiting till next spring .
