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End of the year, spend or save?

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  • End of the year, spend or save?

    At the end of the year, if you have a profit, do you find that you like to buy any equipment or sign up for a lease in order to lower your taxable income or do you like to save that money?

    Why so?
    8
    I like to buy or lease equipment.
    37.50%
    3
    I like to save the profits.
    62.50%
    5
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  • #2
    At the end of the year, if you have a profit, do you find that you like to buy any equipment or sign up for a lease in order to lower your taxable income or do you like to save that money?

    Why so?
    I'll let you know as soon as I start making some money. hehe

    Comment


    • #3
      I think you need a third option, in my experience a percentage of retained earnings (net profit) should go into savings and a percentage to grow. I can't tell you a generic number because it's higher when you are new and it depends on a lot of other financial ratio's for each company and industry.
      Andy
      Halifax, Nova Scotia

      Comment


      • #4
        I think you need a third option, in my experience a percentage of retained earnings (net profit) should go into savings and a percentage to grow. I can't tell you a generic number because it's higher when you are new and it depends on a lot of other financial ratio's for each company and industry.
        You beat me to it Andy lol, I was just going to suggest a third option also, spend on advertising for growth.
        http://www.lunchesruslawncare.com

        Comment


        • #5
          Well the reason I posted this poll is because at the end of the year, I tend to hear things from business owners like 'I need to buy some stuff to lower my taxes.'

          I wanted to know what % of members thought this way at the end of the year.
          - Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
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          Comment

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