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Showing results for tags 'auto shop tax strategy'.
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At the end of each year, it's typical of tool reps and salespeople to give you tax advise. Often they will tell you that buying tools and equipment can be used as a way to lower income taxes. While this may be true, no one has a better handle on your financial situation that a good tax accountant. Listen to the expert, not the tool truck rep. Spending money to save on taxes also reduces your cash flow. I am not an accountant, but sometimes its better to pay a little extra in taxes and maintain a cash reserve. Your thoughts?
