Target Marketing is Tax Deductible

Marketing is the art of getting a product or service to the end consumer. It is multi-faceted and involves many disciplines and is essential for any business success. The two main purposes are

1. To make the potential customer aware of the products' existence and the benefits to be derived from them and

2. To create a desire in the customer to want to acquire or use the product or service.

So what does this have to do with taxes? Simply stated, to reach your targeted audience, effectively, expenses will have to be incurred. These marketing expenses are both necessary and tax deductible; yet are often overlooked and under funded in small businesses.

Companies spend millions of dollars on advertising and promotions each year, involving product branding, distribution and delivery methods, price, support, guarantees, customer service and relations.

In order to reach its target, money has to be spent to promote, advertise and bring a product or service to the end consumer.

When this expense is not adequately funded, the business owner can lose in two ways. They lose potential revenue and they lose  the tax deduction.

When the expense is over funded the tax deduction increases but it may sap resources which could have been used elsewhere. Product purchase for example.

**Important: Always remember that to be tax deductible the expenses should be reasonable, relevant to the income source and verifiable.

 


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