Tax Strategy

At year-end, business owners look for ways to save taxes.  That often means buying equipment or vehicles to take advantage of bonus depreciation.  QUESTION: Does the tax saving purchase fit with your business strategy?  Do you really need the item? Will it generate revenue in the coming year? Do you really need the top of the line truck or will a less expensive one do the job? What is the ROI (Return on Investment) for this purchase?  Buying things inconsistent with your business strategy is a bad idea.  It reduces cash that could be used for other strategic investments or it involves loan payments that may not be affordable or could be a burden if the economy falls into recession.

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