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End of the year, spend or save?


General Business Discussions

A place to talk about general business discussions.
View Poll Results: At the end of the year, if you have a profit, do you like to buy equipment or save?
I like to buy or lease equipment. 4 40.00%
I like to save the profits. 6 60.00%
Voters: 10. You may not vote on this poll

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Old 12-15-2010, 06:57 PM
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Default 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?
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Old 12-15-2010, 07:08 PM
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Quote:
Originally Posted by Steve View Post
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
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Old 12-16-2010, 06:53 AM
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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.
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Old 12-16-2010, 06:56 AM
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Quote:
Originally Posted by picframer View Post
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.
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Old 12-16-2010, 01:25 PM
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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.
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