Use your Year-End Budget Dollars for Effectively for Your Business
If you’d had a reasonably good business year, you might be thinking about how your tax liability will affect your bottom line results. It is a shame how some businesses see having a large end-year budget as an excuse to throw an elaborate end of year party. As fun as those are, there are more effective ways you can help your business in using your year-end budget to help increase your business next year! We came up with the best way on how to use your year-end budget effectively for tax planning through marketing! If you need some ideas you have come to the right place!
Using your Year End Budget Through Marketing Products
Imprinted promotional items and advertising expenses are great way to reduce that tax liability of having a huge year-end budget. Did you know that some imprinted promotional items can be considered an office supply purchase and not an advertising purchase? Products such as imprinted pens, memo books, calendars, key tags or even employee uniforms such as embroidered Polo-style shirts or jackets could fall into this category. Even if your imprinted promotional item budget has been spent, check to see if there are office supply dollars are available. If the budget allows, think about purchasing your office supply items for the New Year now… it could be advantageous from a tax standpoint!
Here are other suggestions for the best way to spend your Year End Budget through Marketing:
– Purchase imprinted promotional pens for your employees to keep on-hand for their own use, and to hand-out to your customers. Everyone loves pens, and it’s always frustrating when you can’t find one. Why not be the person to make them available all over town? Bonus… your business name is on them!
– So, now that you’ve got imprinted promotional pens… you need something to write on. Consider Memo Books. We sell millions of these babies, and that’s a true testament to how useful and appreciated they really are. Plus, these can definitely pass for a supply item. Once again, your employees will use them on the job, and so will your customers…and see your name each. Why buy? Because, marketing!
– Do your employees need a uniformed look? It’s important that they’re clearly identified as an employee, plus they look clean-cut and professional. Embroidered apparel is a nice way to accomplish that, and they keep your employees comfortable. It will fall in the supply or uniform category.
So, as you wrap up your budget this year, consider imprinted promotional items to use up the remaining supply budget and reduce your tax liability. We’re not the IRS, but we’re certainly creative, aren’t we?
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