3 Advantages to Year End Business Purchases - Business Signs & More

3 Advantages to Year End Business Purchases

The holiday rush has passed, and you are already thinking ahead to where you see your business in 2022. But before you close the books on this year, consider the advantages to making year end purchases for your small business.

  • Get a jump start on the new year, while maximizing potential tax benefits for 2021.
  • Small business owners should take the opportunity to utilize remaining budgets while considering strategic purchases that offer value to their business.
  • In this post, we’ll discuss how year-end purchases can benefit your small business.

Why Should I Consider a Year End Purchase for My Small Businesses?

As a small business owner, you’re always planning and strategizing. From budgets to branding, your business is always on your mind. If you’re not familiar with small business tax deductions for advertising and marketing, now is the time to do some research or consult a tax professional.

 

1. Plan Ahead by Looking Back

Hindsight is 20/20 so what worked (or didn’t work) in 2021 should determine much of your strategic planning for 2022.

Ask yourself:

How can I use my experience from 2021 to set realistic and attainable goals for the new year?

What can I do now to be prepare my business for success over the next 12 months?

What in my business needs to be refreshed or rebranded for 2022?

How do I implement new ideas and strategies and market those to my customer base effectively?

 

2. Potential Tax Deductions

Does your year-end budget allow additional spending in 2022? If so, you may want to go ahead and make purchases or other business expenses.

While consulting your tax professional is the best way to determine eligible expenses for your business, advertising and marketing costs are generally considered tax deductible.

 

3. Hit the Ground Running

January does not have to be a slow month for your business. Being prepared with fresh, new signage or a complete branding (or re-branding) as part of your marketing plan gives you the opportunity to get the attention of your customer base when little else is happening to distract them.

The marketing strategies you implement early in the year can determine the outcome of your 2022 business goals.

“The best preparation for tomorrow is the right use of today.” – Darry D.

Should I Make a Year-End Business Purchase?

Review the past year, determine your goals for the next, consider the tax benefits (and your budget), decide what you need to implement your plans for 2022, and make your purchase decision.  

Get Ready for 2022

Do you need some ideas and inspiration to bring your vision to life? Discover products and services designed with you, the small business owner, in mind.   

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