Should I Purchase a Tax Deduction?
A very common question I hear is…
Should I purchase a tax deduction?
From a cash flow standpoint the answer is NO.
Individuals and business owners need to look at taxes as any other expense.
If it’s not needed then don’t buy it for the tax deduction.
For every $100 spent on non-essential items, approximately $25 is returned in tax savings.
Would you not be better off, cash flow wise, to pay the $25 and keep the $75?
If you have any questions, comments or concerns about tax deductions, or think I can help you in any other way, contact me, or give me a call at (239) 384-9688.
– Mark
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This information is based on facts, assumptions and representations as stated and authorities that are subject to change. We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.
LEGAL NOTICE AND DISCLAIMER: The information within this post is for informational and educational purposes only and is not tax advice and should not be used as such. The facts of each individual situation can have significantly different outcomes when applying tax law. The hiring of a CPA is an important decision not to be based solely on advertisements.
