With the start of December, retailers and business owners have one final month to boost their sales and profits. For many businesses, the last quarter, and specifically Christmas sales during the month of December, is a critical part of annual sales. This make or break month can mean the difference between a profitable year and a non-profitable year.
One often overlooked part of business planning is taxes. Too often business owners only look at ways of reducing their taxes in hindsight rather than actively planning ways to reduce their tax liability. Strategic tax planning can help you save thousands of dollars each year in unnecessary tax liability.
Here’s The Skinny
Even if you don’t personally take your excess business profits as salary or dividends, small business owners are personally responsible for the tax on that profit.
One such way to reduce your tax liability is to wisely spend excess profits before the the end of the year. Typical smart purchases include investing in business infrastructure, new machinery, effective marketing items, and business apparel. Don’t wast money, but invest in items you will need for the new year.
The end of the year is a great time to buy company uniform shirts to make your staff look great for the upcoming new year. Not only will company shirts increase your professional look, but this year-end spend will also reduce your overall tax liability for the year, saving you hard-earned money. You can either choose not to spend your excess money on legitimate tax deductible purchases or you can instead choose to pay extra taxes on that money. We recommend buying the shirts. You worked hard all year for your money, so don’t squander it away.
At Anchor Screen Printing, we are here to help you through the process of choosing the best company shirts with high quality embroidery. Our in-house embroidery machines allow us to keep a strict quality control to deliver superior uniform shirts for your employees.
We offer many brand name polo work shirts such as Nike, Adidas, Columbia, American Apparel, and many more. For the more budget-conscious, we have many other brand names which offer excellent quality shirts mimicking the higher priced brand names, but at a cost any small business can afford.
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