Anyone have any suggestions for a speculative alternative investment expense? Looking to have a large expense to save money from the tax man. Thinking about the company purchasing Rolex’s or art and expensing it under speculative alternative investment. Anyone have any suggestions or experience doing this?
just buy a heavy vehicle and be done with it
Time to consult with a CPA. If it’s an “investment” it’s not an expense. And none of the things you’ve listed are going to be considered reasonable and necessary (what determines if they’re deductible) expenses for most businesses.
Need a website redesign by chance? We can get some pretty awesome keyword targeting and landing pages built so you can expense it now and actually have it generate more revenue for you next year.
Out of curiosity, what’s your objection to paying tax?
You are earning money, paying all your bills, assume you are paying your staff and yourself well - what’s wrong with paying tax on what’s left?
(I’m not trying to be judgemental, I’m genuinely curious about the thinking)
What’s your business?
Plow some money into marketing.
Build out automation systems to make your life easier.
Anything you ‘expense’ will simply lower the business’s taxable income for the year by that amount.
So if the thing you buy in order to ‘write it off’ is going to cost more than the tax savings you get, then you’re not really any better off.
It only makes sense to write off things that the company actually needs or will lead to improved profits.
This is also a case by case kind of situation and each business will differ based on its structure and priorities.
I opened a gunshop as a third business. Firearms tend to be very expensive expenses that rarely lose value / don’t expire
I take pride in paying taxes. Support your fellow countrymen. Make improvements to your society. That shit isn’t gonna pay for itself. And a lot of people aren’t able or willing to contribute. I don’t understand the demonization of taxes. Like, don’t you want to live in a nice area? Well then pitch in and pay your fair share. Otherwise, it’s only going to go to shit.
Buy “toy hauler” caravan. I wrote mine off as a work trailer $85k
What do you think buying a Rolex achieves? It’s not a deductible expense for business (unless your in the watch business and then it becomes stock). You’ve provided no details about your business but I guess you are asking what expenses can you get away with? Investments would just create more profit and are an asset so wouldn’t lower the tax bill.
Asking expenses for their business yet didn’t state what their business does. 😂
It sounds like you have a signup amount of money to spend.
Apart from buying yourself a toy (camper, big truck, etc) that you don’t need, have you thought about buying another business? If it could be in the same niche and benefit your primary business, even better. Or maybe there’s property that can benefit your business?