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Updated 3 months ago on . Most recent reply

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84
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Francisco Milan
  • Gilbert, AZ
25
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84
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What has been your best category to invest in before the end of the year to lower....

Francisco Milan
  • Gilbert, AZ
Posted

Your tax bill ? What have you seen make the biggest impact ? 

As agents I think marketing and vehicles can be the biggest tax deductions can not ? But not sure wanted to see what everyone thought?

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Chris Seveney
  • Investor
  • Virginia
15,468
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18,002
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

Your tax bill ? What have you seen make the biggest impact ? 

As agents I think marketing and vehicles can be the biggest tax deductions can not ? But not sure wanted to see what everyone thought?


 Oil and Gas offerings are what I have heard a lot of people move too.

What I always caution people who buy vehicles is: Are you buying it because you need a new vehicle or are you buying for a tax deduction. If its the latter then I always caution people spending money to save some is not always a good strategy. Its like going shopping on black friday for something you do not need and saying "i saved $100", when its actually - you spent $400.

Could that money be better invested and provide a return for you vs. putting it in a depreciating asset?

  • Chris Seveney
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7e investments
5.0 stars
16 Reviews

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