Painting Biz Owners: Navigating Year-End Tax Strategies with Financial Savvy! #SmallBusinessTax

The one caveat I tell folks is this is one of those strategies that's almost kind of fun to implement because you get to go out and spend money, but you need to show some restraint. Don't spend a dollar to save $0.20 in taxes. Only buy things that you actually need for your company, things that you are going to buy anyway, but maybe buy them a little bit sooner so you can get the tax break in this year and hold on to your money for an additional 12 months.

Right. And that's good advice for any of these strategies. Like, do things that make financial sense. That should be the first rule. And then look at it from a tax perspective to see if— how you can make it a tax-advantaged thing. But don't only look at it from a tax perspective, because then it's like having the dog wag the tail. Doesn't make any sense. So always do things that make financial sense first.