What Small Business Saturday Means for You, Your Bottom Line and Tax Savings

If you’ve followed me on social media accounts for any amount of time, you’re likely familiar with my philosophy of making dollars make sense in business. The number one job of every entrepreneur is to generate sales. The second is to make good decisions with finances so that there are ample funds in reserve and you can stop supporting it with your own savings. What this boils down to is two things: Generating sales and creating savings. Let’s look at a few ways to add more to your account by supporting Small Business Saturday.

Savings Tip #1: Consider your everyday activities.

One of the great things about working from home is choosing your work station. I’m one who finds it more interesting to change things up and, I tend to work throughout my home although I have a dedicated home office. In fact, I’ve cranked out many projects for clients with my feet up on my ottoman and briefcase on the floor.

But if you’re anything like me, you need the right tools to be productive. Since the majority of my work takes place on a laptop, it’s important to have equipment that helps me keep good posture.

This handy laptop desk does just the trick. I love that it’s portable and has adjustable positioning making it perfect for different slants of the keyboard.  And, get this. It’s priced at just under $30 which is such a great buy that I’m buying a few for gifts this year.

Savings Tip #2: Think about your business plan

Another reason to make buy small this weekend is to max out savings on the items you need to carry out your plans for start-up, growth, or expansion.

Have a project that would go faster with new equipment? What about making your office more efficient with technology or training? Well, those are more good reasons to purchase now. You not only get the benefit of having the resources you need but many will have significant mark downs.

Even with vendors keeping best selling items at the same price, look for great deals with bundling. One of my favorite designers has a blow out sale with up to 70% off clearance items. So I’m using Small Business Saturday to stock up by shopping around for the things that will help my business while getting the best deals possible.

Savings Tip #3: Position your business for tax savings

Think about it. If you’re going to pay a tax on profits, doesn’t it make sense to reduce them by reinvesting into your business?

Saving by reducing income taxes you pay is a great reason to buy now rather after the year ends. This is because you can only deduct expenses in the year that they apply. By waiting until January 1st, you’ll miss out on write-offs that you legally qualify for and end up paying higher taxes.

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To create more tax savings consider plans for the upcoming quarter. Decide which strategies makes sense. This could mean buying more now and even paying installment accounts up early. If you’re not sure where to start, I invite you to schedule a discovery call with me to explore your options here.

Want to learn how to get in on Small Business Saturday savings and events near you? Log on and visit American Express website at https://www.americanexpress.com/us/small-business/shop-small