End of Year Purchases
My accountant and I sat down today. I had total sales of roughly 85k and after overhead is taken out, I cleared about 35k. My accountant says I need to spend quite a bit before Dec. 31.
My question is, what do you guys spend end of the year money on typically? I don't have anything I really need besides a snow blower which I will get.
Do you all have to show that you did not have a profit each year in order for the taxes to not eat it up?