It's never too early to start tax preparing.
For many, tax day is hopefully a remote memory. But also for business manager, it's never too early to begin preparing for next year. And while most businesses attempt to take advantage of every allowable deduction, many have no idea that a good chunk of their advertising and marketing expenditures are tax deductible.
As a matter of fact, baseding on a recent study of business owners at Inside99Designs. com, greater than a quarter (27 percent) aren't also conscious that the Internal Revenue Service permits them to deduct (" write off ") certain advertising costs on their tax returns. And from the 73 percent who do learn about the write-offs, only 57 percent indicated that they'll be making use of them in the near future.
And the study says ...
The survey, carried out among 211 U.S.-based small company proprietors, showed that 64 percent of business manager say they are crossing out about the exact same amount this year as on their previous return, while only 22 percent are subtracting more.
And when asked exactly what single advertising and marketing network they 'd use cash towards if they were to get a tax refund, the questionnaire said:
33 percent would spend it on their web site.
17 percent on internet marketing.
17 percent on a mobile app.
10 percent on a print advertising campaign.
8 percent on social media advertising and marketing.
Lastly, when asked if they considered the cash they spent in 2013 on marketing activities were a good investment or otherwise, 70 percent said yes, 23 percent said they weren't sure, and 7 percent stated no.
Simply to clarify, I'm by no means a tax expert. Nonetheless, based upon the findings from this survey, I could create a basic conclusion that numerous local business proprietors must be speaking with their tax specialists and evaluating feasible tax deductible advertising and marketing expenditures. Yet as a local business owner, I locate I'm in great company with those who are spending bucks back into their advertising and marketing approaches in an initiative to grow and preserve a healthy and balanced customer base.