Many business owners look at their small business tax deductions only when tax time rolls around. Then, they find themselves digging through expenses for anything that may qualify as business write-offs. But there’s a more efficient way to do it, and it can help you to save money on your business taxes. Through proper tax planning and careful spending, you can get more marketing tax deductions for your business and possibly reduce the taxes you owe.
So, while you’re doing your tax planning this year, consider investing in some of the following business tax deduction categories. We also provide all of the following services here at Platinum Passports Marketing.
The high-quality flyers designed by our team often qualify as marketing tax deductions. The exact amount and eligibility of this expense will depend on exactly how the flyer is used for your business. But, generally speaking, an ordinary business flyer is seen as an important marketing expense, and so qualify to make it on the self-employment tax deductions list.
Business cards are a timeless way to get your company’s name out to the public. You use them at networking conventions, when you meet with potential clients and suppliers, and may even use them when your work comes up in casual conversation. We can design professional-grade business cards for your company at a reasonable price, and you can likely include them as business write-offs on your 2018 tax return.
Mailer ad campaigns are still a popular way to reach a large number of potential customers. You can send postcards to every home in your company’s geographical area, so that you can quickly get the word out to as many people as possible. These postcards can even include a special coupon to help draw in more new customers. Our team will design an eye-catching postcard to your specifications, and increase your return on this marketing tax deduction.
Brochures are generally a specialized marketing material that business owners use at conventions or to provide more detailed information to warm leads. This type of advertisement still needs to be beautifully designed, but it’s really the content that matters, since the people you give them to are generally those who desire more information about your products and services.
With our team of experienced designers and highly qualified writers, we can produce an exceptional brochure for your marketing purposes.
Car decals, wraps, and signs are common ways for business owners to advertise their businesses. In fact, some companies will have an employee drive a wrapped car around town to get more visibility and increase awareness about their company. But even if you simply put this on your personal vehicle, a high-quality car sign can attract attention and potentially draw in customers.
Of course, it needs to be a high-quality sign if people are going to be able to get the information they need off of your vehicle. So let our team of professionals design this marketing material for you, and include it on your self-employment tax deductions list. Keep in mind that driving your vehicle around as advertisement can’t be deducted as an advertising expense. However, speak to your CPA if you drive your vehicle for other business purposes (like attending a convention or meeting with a client), as this may be tax deductible under other business tax deduction categories.
Not all marketing expenses are going to be in print. A lot of companies use special events to build connections within their communities and generate new business. The expenses associated with these events are often qualifying small business tax deductions. For example, if you have a grand opening event for your business and provide free food to your guests, you can deduct the full amount of any cost associated with that event.
And while PPM certainly isn’t an event planner, we can help you with advertisement for those special events by designing banners, creating social media ads, and more—and all of those expenses would be business write-offs.
Additionally, the costs of “goodwill advertising”—basically, any advertising or PR done to keep your name in front of the public—are usually qualified marketing tax deductions as well. And at PPM, we can assist with such advertising or PR needs.
A Note on Record Keeping
Planning ahead for these business expenses and their associated small business tax deductions is only the first step in getting the best possible outcome for your 2018 tax return. You also need to keep detailed records regarding any of the above services you receive, if you wish to claim them as business write-offs. This means that you not only need to have receipts showing that cost of the expense, but you need to keep notes on the different business tax deduction categories how the different materials were used.
For example, if you had PPM design brochures for your company, you would need to keep the receipt for that expense, as well as notes stating what convention the brochures were used at, and the convention’s date and location. Remember, when it comes to keeping a self-employment tax deductions list, too much information is always better than too little information, so make your notes as detailed as possible.
If you have further questions about the marketing tax deductions mentioned above, please contact your CPA. If you would like to work with us on any of the above-mentioned services this year, contact Platinum Passports Marketing today.