A Happy and Productive Holiday

A Happy and Productive Holiday

11 Dec 2019

Small business owners working out their finances for the monthWhile some small businesses see an uptick in sales during the holiday season, others understand the winter months to be slower than most. However, whether looking towards a hectic or relaxed holiday, it’s crucial to stay on top of your business’s dealings. Especially when looking to wrap up taxes and expenses, be sure to keep your finances in order before the end of the year.

Holiday Deals

If you wish to take advantage of holiday shopping, your business will do best to offer seasonal deals. You can do something as simple as a holiday price cut, or more unique, like providing a small gift with the purchase of a product or service. The more special your promotion, the more likely you are to pull in new customers. Additionally, placing reduced pricing on your products is an excellent way to clear out your stock for a refresh at the beginning of the year.

Connect with Your Audience

Now’s not the time to let your customers or clients go by the wayside! The holiday season presents the perfect opportunity to reach out to those who’ve supported your business throughout the year. Stay active with your followers on all social media platforms. Send out a card to your clients to wish them a “Happy Holidays!” Or, if you’re up to it, host an event, party or open house for your business. Just make sure anything you do is well within your budget for the end of the year. And speaking of budgets…

Keep Your Expenses in Check

At the end of the year, now’s not the time to go overboard with extra spending. Only purchase what’s necessary for your upcoming season, and work through any remaining stock you may have. One suggestion to ensure you don’t overspend is putting a limit on your business’s credit cards until the end of the year. However, although we suggest reigning in your spending…

Make Your Big-Ticket Purchases Now

Before the end of this year’s tax season, purchase any big-name items your business may require for next year. Whether this includes making updates, purchasing new equipment, etc., make sure everything you want to write off on your taxes is bought before December 31st. The reason behind these purchases is to ensure you have a clear financial slate to start the new year.

Get Help Where You Need It

An accountant in Peoria IL determining a business's taxes and financesKeeping your budget in check while attempting to keep up with your stock and trying to get your more significant purchases out of the way can seem challenging to manage. Additionally, you still need to manage payroll, bills, surprise expenses and anything in between. It can seem like an impossible task if handling your finances alone. However, with the proper assistance, the holiday season doesn’t need to be a stressful time for you and your business. At White Income Tax, we make it our priority to ensuring your taxes, bookkeeping, payroll and additional finances are kept in order through the end of the year and beyond.

Dianna White and her team at White Income Tax are experts at handling business finances. Our mission is making sure our clients can maintain financial stability in the present while also taking a proactive approach to achieve their future goals. Through tax management, bookkeeping and other accounting services, we help businesses and individuals stay afloat, even during the most financially difficult times.

To stay ahead during the holiday season, give the professionals at White Income Tax a call today. You can contact us at 309-326-5973. Also, we are located at 431 N Western Ave, Peoria, IL 61606.

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