Now that tax season is here we’ve teamed up with our partners over at @Tax2GoLLC to provide our readers with 7 things every entrepreneur should do with their tax refund this year. I’m sure we’ve all witnessed friends and family blow their tax refund on material things and end up having nothing to show for it. But, we’re going to help you invest your refund in things that can help you grow as a person and entrepreneur.
1.) Invest in your current business
Invest your return back into your business. What areas of your company are you lacking and need attention. Invest your return in providing resources in that area or increase your marketing or ad spend. If you need help with marketing and advertising reach out to us and we can assist in that department.
2.) Start a new business
If your current business is on auto-pilot perhaps you should consider starting or investing in a new business or side hustle.
3.) Invest in real estate
Depending on your return amount look to invest in properties or partner with a friend and put your refunds together. Real estate is always a great investment.
4.) Take a trip and invest in experiences
A lot of times as entrepreneurs we fail to wind down and travel for leisure. Take your refund and invest in an experience. Travel to that country you’ve always wanted to go to.
5.) Pay off or decrease debt
I highly recommend and #COSIGN this tip. Use your refund and decrease or pay off your debt. Pay off that credit card that has been haunting you. Use this extra income to help you get yourself or business out of debt.
6.) Invest in knowledge: Conferences, courses, books, etc.
It’s the top of the year, use your refund to invest in knowledge whether its by attending a conference or taking new courses or reading new books.
7.) Donate to a non-profit you support
Last but not least, you can always give back to a non profit organization that you support such as (ESUME) Entrepreneur Scholarship Program which provides scholarships to deserving underprivileged students.