It's never ever prematurely to start tax preparing.
For numerous, tax day is with any luck a distant memory. But also for businessmen, it's never prematurely to start preparing for next year. And while the majority of companies try to make use of every allowable deduction, many don't know that a great portion of their advertising and marketing expenses are tax deductible.
Actually, according to a current study of company owner at Inside99Designs. com, greater than a quarter (27 percent) aren't also aware that the IRS allows them to take off (" underrate ") specific marketing costs on their tax returns. And out of the 73 percent that do learn about the deductions, just 57 percent suggested that they'll be making use of them in the close to future.
And the questionnaire says ...
The survey, carried out among 211 U.S.-based small company proprietors, suggested that 64 percent of entreprenuers state they are creating off roughly the same amount this year as on their previous return, while simply 22 percent are taking off much more.
And when asked what solitary advertising and marketing channel they 'd apply money towards if they were to receive a tax refund, the questionnaire said:
33 percent would certainly spend it on their website.
17 percent on internet advertising and marketing.
17 percent on a mobile application.
10 percent on a print ad campaign.
8 percent on social networking sites marketing.
Last but not least, when asked if they considered the cash they spent in 2013 on marketing activities were a great investment or not, 70 percent said yes, 23 percent stated they weren't sure, and 7 percent claimed no.
Simply to make clear, I'm by no suggests a tax specialist. Nonetheless, based on the findings from this survey, I could create a general conclusion that lots of small business owners should be consulting with their tax specialists and evaluating feasible tax deductible marketing expenses. But as a small company owner, I locate I'm in excellent business with those which are spending dollars back into their advertising methods in an effort to grow and maintain a healthy client base.