Did You Know? Marketing Expenses Are Tax Deductible!
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As the economy continues to show signs of tightening, you may be asking yourself what business expenses are tax deductible? Believe it or not, some marketing expenses are! It’s like getting a break to GROW your business – and that is music to our ears.
Tax Deductible Marketing Expenses
✂️ Advertising & Promotions: This includes expenses for online ads, print ads, radio, TV, or any other form of advertising.
✂️ Website Development & Maintenance: Costs associated with building, maintaining, and promoting your business website, as well as fees for online advertising.
✂️ Social Media Content Creation: Costs for social media advertising, sponsored posts, and other social media marketing efforts.
✂️ SEO & Online Marketing: Expenses related to creating and optimizing content for SEO purposes, such as blog posts, articles, and website copy, may be eligible for deduction.
✂️ Networking & Events: Costs related to attending or hosting trade shows, conferences, and other events where you promote your business.
Tax laws can vary, but generally, you can often deduct marketing expenses that are necessary and directly related to your business. Read more about which marketing and advertising expenses you may be able to deduct HERE.
Let’s Work Together
At KMG, we work hard to stay competitive and in tune with the savvy business owner. Our competitive edge extends to our service offerings but also our pricing. There are significant macro factors (cost of living, insurance, maintaining competitive wages) which are outside of our control that affect the value chain for a company like ours. These factors are why many service providers adjust their rates periodically to reflect the state of the economy.
That said, KMG is different. And this current economic climate is no exception. We strive to continue to provide the level of service our clients have come to expect and appreciate without passing on these increases that are not tied to any increase in value or deliverable and this is on top of the valuable services our clients receive from our expertise.
Our business is based on a flat-fee, retainer model. This is by design. To protect our clients from escalating costs of doing business with us as well as to invest in long-term, enduring relationships that allow our clients to plan. We are looking at the value of our client engagements over a 10-year horizon, not trying to figure out the best way to make the biggest profit in the short-term.
While somewhat unorthodox, this speaks to the KMG brand and our commitment to our clients.
Ready to invest in growth while keeping more in your pocket? We’d love to talk!
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