083 - Rapid Fire: Should I Be Spending Money to Save Tax?

This episode is a rapid-fire where we're tackling a question that comes up over and over (and one I just spoke about with a client): “Should I spend money to reduce my tax bill?” It’s one of those myths that sounds good; Spend now, save on tax later but the truth is, a tax deduction doesn’t make your expenses free. We’ll talk about: • Why “it’s tax deductible” doesn’t mean “it’s free money” • The mindset that makes business spending feel easier than personal spending • What a “write-off” actually means (and why that Schitt’s Creek moment is so relatable) • Why paying tax isn’t always the enemy, it means your business is profitable If you’ve ever caught yourself justifying a purchase because “it’s tax deductible,” let’s unpack what really happens when you spend to save tax. The goal is for you to make decisions that serve your business long-term, not just your end-of-year emotions. Tune in now for a bite-sized dose of clarity and common sense Looking for help to transform your business into the thriving, profitable business you know it could be? Book a Discovery Call with Laura here www.laurajohagan.com/book-call Ready to Prosper and Profit? Let's dive in. Loving the podcast? If this podcast is providing value to you, please leave a 5-star review. Connect with Laura Website: www.laurajohagan.com Email: [email protected] Instagram: www.instagram.com/laurajohagan