It is my least favorite time of year. That time when we all get to figure out exactly how much of our hard earned money we bequeathed unto our beloved government during the previous year.
When I do my taxes I don’t think about how great that road is that I drove on to get from my home to my work. I think about how annoyed I am that on top of the taxes our Company paid and I personally paid, I still owe! It irks me to write that cheque, so this year I started to think how can we all pay less taxes? Yes, I know, we need to pay tax to have roads and health care and on and on, however, if we can minimize the taxes we pay, especially when unnecessarily, then we should!
It occurred to me that because of each persons unique personal financial situation, I can’t provide any specific assistance to whomever may be reading this blog post on how to save some personal taxes, but I can possibly help the companies that use Sage ERP Accpac save some taxes by stopping some of the needless tax spending. One area our clients can minimize taxes, particularly distribution companies with significant assets, is by paying attention to those Fixed Assets.
Properly accounting for our Fixed Assets in the organization can save real dollars.
By identifying “Ghost Assets” you can reduce the organizations tax obligation. Have a look at this ROI Calculator and see if your organization can benefit.