6 Great Ways To Write Off Business Expenses For 2017
Tax season is just around the corner which can easily snap any entrepreneur back to reality after a magical holiday season fueled by family, fun, and festivities (and maybe a little too much spiked eggnog).
The good news is that paying taxes means you made some money in 2017 and that is something to celebrate! (Just not with more eggnog). The bad news is… well, you owe money.
If you’re like most entrepreneurs, you probably want to do whatever you can to reduce – or at least defer – your tax liability so that you can hold onto your profits a bit longer, at least until you can strategize ways to better delegate your earnings. We at Markethustl are by no means tax experts, so the following are some very basic, highly-suggested strategies you can implement before the end of 2017 to reduce your tax bill this upcoming year.
6 Clever Ways to Write Off Business Expenses
Strategy: Try to employ business expenses NOW for the future. If you know you will use a lot of these things in 2018, you can write off business expenses and, conversely, lower what you owe in 2017. Here are a few helpful tips on maximizing your business expenses and tax write-offs before 2018 hits.
Business Travel & Expenses
Not only is it better to buy airfare and hotel rooms months in advance to save on prices and guarantee spots, it’s also a good idea to book these now so you can apply these business expense write-offs toward this past fiscal year. Even if it means buying four airline tickets now, you may find it pays off come next tax season.
Industry Conference & Events
If you know you will be going to a conference like the the Canton Import and Export Fairs or the annual Prosper Show in 2018, it may be a good idea to go ahead and book tickets. Not only can these conferences help enhance your brand, but you can go ahead and file these as a business expense for 2017.
Equipment and Technology
Have you been eyeballing a new printer or are in dire need of a new Macbook or cellphone? Office supplies are an easy expenditure for businesses and can go toward your LLC expenses. By buying these things now, you can defer larger tax payments for the upcoming year.
If you rent space for your business, whether it be a storage unit, an office, a house, or a building, and you tend to pay monthly installments, instead of paying January’s rent January 1st, pay it December 31st. This way, that expense that be written off as a 2017 business expense.
Inventory & Packaging
If you can anticipate what you’ll be spending for the first quarter of 2018 with parts, packaging, and shipping supplies regarding your products, go ahead and buy that stuff now, particularly if you find it saves you buying in bulk. Again, this is about projecting what you think you’ll need and spend in 2018 and being ahead of the curve so you can owe less in business taxes (or at least defer them for a while.)
If you know you will launch new products in the first 6 months of 2018 or optimize any of your existing products, you can consider paying for those services before the year’s end as another way to reduce your 2017 taxes.
Whether it’s for listing optimization, product photography, or launch campaigns, if you purchase any of these services with MarketHustl or SellerPhoto, that credit will stay on your account until you use them.
As an incentive to do so, we are offering $100 off any of our special bonus packages that include photos…there are 4 to choose from based on your specific needs. To take advantage of this special end-of-the-year deal, simply take promo code 100OFF2017 and enter it in the coupon box when checking out on our site HERE.
We all want to keep more of the money we make or at the very least, keep it for longer. Sit down today and look if any of the above strategies make sense for you. We’ve been doing the exact same thing for our businesses over the last week. As with anything related to your taxes, make sure you check with your accountant for any questions.
From all of us here at MarketHustl and SellerPhoto, we wish you a safe and Happy New Year… may 2018 be your best year yet.
Coupon Marketing Agreement
(“Agreement”) by and between iLoveToReview.com, LLC dba MarketHustl.com, a Nevada limited liability company, (the “Company”) and the undersigned client (the “Client”), effective as of the date set forth above (the “Effective Date”) and covers all promotional campaigns for MarketHustl.
Amazon TOS Compliance
- We are not a review company. We will never ask any member to review a product.
- We have no way of tracking any information related to Amazon reviews
- Providing products in exchange for a review is against Amazon TOS.
- All campaigns are for strategic promotional purposes only
- The term “Coupon Codes” means Amazon.com coupon or promotion codes provided by Client for distribution by the Company. All Coupon Codes provided by Client to the Company shall reflect a Significant discount on the price of the product(s) described above (the “Product(s)”), but need not discount Clients’ ordinary shipping and handling costs.
- Client understands a Campaign Date will not be set until Company receives Coupon Codes for distribution as set forth below.
- The term “Redemption Target” means the numbers of people who use the Coupon Codes to claim a Product(s) from the Client’s Amazon account. Client agrees to provide Company with an accurate report showing such redemptions within three (3) business days of Company requesting it.
- The Company will use reasonable efforts to distribute the Coupon Codes by email, SMS messages or website visitors until Redemption Target has been reached, however, there is no guarantee the redemption target will be reached. The Company will be responsible for the timing, nature, and means of distributing the Coupon Codes; provided, that the Company and Client shall mutually agree in advance to any product description, marketing materials, or the like used by the Company in connection with distributing the Coupon Codes. The Coupon Codes may be distributed in conjunction with coupon codes for other products and/or services, including those of other clients.
- Campaign Fees: Client shall pay the Company the Single Promo or Standard, Basic, Business or Corporate subscription fees which are due immediately upon execution of this Agreement. The Company shall have no obligation to distribute any Coupon Codes until payment in full is received.
- Campaigns: Campaigns are defined as a coupon code promotion for a single ASIN. Single Promotions are limited to a 1 time promotion for up to 200 coupons. All subscriptions can run unlimited promotions per ASIN per month with no coupon limits.
- Client shall be responsible for timely fulfilling all orders for the Product(s) utilizing the Coupon Codes, consistent with its ordinary fulfillment policies, at its own cost. The Company will not pay for any part of the costs or retail price of the Products, and will not provide shipping, logistics, or fulfillment services. Client shall not charge shipping and handling greater than it charges paying customers for like goods.
- The Company shall not be liable for any damage or loss caused by use of the Coupon Codes, including, but not limited to, redemption by persons other than its subscribers, publication of the Coupon Codes, or redemptions of the Coupon Codes in excess of the Redemption Target. If Client believes that the Coupon Codes are being misused it is Client’s responsibility to deactivate the Coupon Codes.
- Upon the Company’s request, Client shall provide to the Company the complete fulfillment report from the time of the campaign.
- Client shall ensure that on the day of the promotion that the product price will be at a price that the Coupon Codes will reduce the item to the agreed upon amount as indicated on the cover of this Agreement. Client further promises that they shall not change the price of the item on Amazon for 5 days after the promotion launch date to ensure that the Coupon Codes will discount the product as promised for 5 days after the promotion date.
- The Term of this agreement shall be for 30 Days from the day the Coupons are first distributed by the Company for all campaigns and automatically renewed each month upon monthly subscription payment.
- Campaigns are valid for 12 months from the date of purchase and are non-refundable.
Indemnification, Insurance, Limitations on Liability.
- Client agrees to indemnify, defend and hold the Company harmless for any liability, damage, loss, claim, cause of action, injury or expense (including reasonable attorney’s fees and costs) arising from or relating to any Client’s product(s) or any product(s) promoted by Client pursuant to this Agreement, Client’s failure to fulfill any order pursuant to the Coupon Codes, any returns, reimbursements or the like, or any claim that any product promoted by Client under this Agreement was in any way defective or deficient, including, but not limited to, claims in the nature of negligence, product liability, breach of warranty (express or implied), breach of contract, or fraud (collectively the “Covered Claims”), whether for injury to person or property, or otherwise. If any Covered Claim is asserted against the Company, the client shall have the right to retain counsel of its choosing, and shall promptly notify Client of such claim.
- WITHOUT LIMITING THE OBLIGATION TO INDEMNIFY THE COMPANY UNDER PARAGRAPH a. ABOVE, NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE, OR EXEMPLARY DAMAGES OF ANY KIND, AND THE MAXIMUM LIABILITY OF EITHER PARTY HEREUNDER SHALL BE THE AMOUNT ACTUALLY PAID BY CLIENT PURSUANT TO THIS AGREEMENT.
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- THE COMPANY HAS NO CONTROL OVER CHANGES TO THE AMAZON.COM SITE, WHICH MAY RENDER THE COMPANY UNABLE TO FULFILL ITS OBLIGATIONS HEREUNDER. THE SERVICES HEREUNDER ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS.
- Either party may terminate this Agreement, (a) on fourteen (14)-days written notice of the other party’s breach of this Agreement if the other party has failed to cure its breach during such period, or (b) immediately on written notice of the other party’s breach of the terms outlined in this agreement. The provisions of Section 5, 6 and 7 shall survive termination of this Agreement.
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- In the event that any provision of this Agreement is held invalid or unenforceable, then that provision will be limited or eliminated to the minimum extent necessary to render it valid and enforceable, and the remaining provisions of this Agreement will remain in full force and effect.
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