The age of air travel has allowed us to travel the world and connect in ways that never existed before. We can go abroad and travel around the world within 24 hours.

With all these opportunities to travel, we are also faced with the expense of a trip. For the many who want to fly, cheap, here are some suggestions. The first thing you should know that you pay to never again "list price".The airlines have many levels of prices and the same seat can be used for different prices in the sale of hundreds of dollars, depending on where, when and how it is acquired.

Ask the experts:

The first step would be to ask the Council to your travel agent if the airline ticket purchase. He or she will be able to give you some advice that airlines offer discounts and when. For example, some airlines offer "Earlybird" quantity, and some drop their prices compared toType approaches, even if no one has bought the seat.

Getting a promotion:

If a scheduled flight is not fully utilized if the offer due to cancellations or missing items, some airlines in free upgrades to selected seat passengers of the class. This may be less prevalent than it was before, it happens occasionally. Your best chance of being selected for the update, to be dressed for the flight in a clean cut, professional and courteous.You can also try, just ask at check-in if there's any chance you can get an update – they can do for you, if this offer subsidy is available, or can at a lower price than that paid to have offered at the time of reservation. Success depends on many factors such as mood and authority on the ticket and the companion way is required of us. You may need to move to the passenger weight and purpose of the budget, and a better place to underpin this offer – you will nevernothing if not at least ask! It is also sometimes a free or reduced price travel on to be a "overbooked flight and are willing to wait until next be arranged for you, but it is not something you have no control.

Flexibility:

If you're flexible in your travel times or dates? By 'we' stand 'on an airline, you can hang out and wait until a place becomes available or someone cancels, and can often cheaper last-minuteTickets.

'Used' Tickets:

For a number of reasons why people buy tickets and change their plans. If these cards can not be repaid, may try to sell again to receive at least part of their money. This is good news for you, as you recall the advantage of some discounts (you can take if they do not sell tickets, you get nothing, nothing is so they can go for help). The online ticket sales in many places, such listings can be found,Craigslist online auctions such as eBay, Google and try searching.

To save even more money, travel tips, make sure to guide you to get your copy of Travel Industry Secrets found in The Insider Travel Blog, where you will also find reviews and tips for your travel needs.

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Assume that you are accountable for organizing a trip or planning a trip for an entire group of people. In this case, you do have to take a better decision, if you are hiring a coach. It is affordable as well as easy to travel to varied parts of the destination. Just hire the coach and driver, and you are done from your side to enjoy an excellent tour in comfortable and relaxed manner. It will also help you to increase the time span of different activities on a specific location.

The most suitable aspect for hiring a coach is city breaks. Planning to go for a city break, nothing would be as comfortable and as reliable, than hiring a coach. One of the best examples for this case is London. If you are traveling in a coach, you can run down at some nearby places, which you wish to see without the need of entering into London traffic. You will be picked up easily and provided transportation, without hassling to other destinations. So, travel and explore different parts of your selected destination in a stress free and convenient way all over your journey.

One significant aspect of traveling by coach, which is blurred somewhat is the services offered and the vehicle standard. Most of firms keep on claiming themselves as a firm specializing in luxurious and executive coach service. Nevertheless, all of us are aware of the fact that these firms are capable to meet only few of the above-mentioned standards. People might remember their school coaches, cheap coaches are nothing but the same. They provide short distance traveling but are somewhat uncomfortable for long distance traveling. To hire a luxurious coach is out of question form all these issues discussed above.

In luxurious coaches, the long journeys can be made in a comfortable manner. You get everything like leather seats, wireless networks, power points, Sky TV, sleeping berths, conference facilities, meals, etc. The prices of the coach hire are quire affordable, provided you have a number of people with you. Nevertheless, in case of luxurious coaches, the expense rises gradually. The recent coaches do not provide you with an uncomfortable experience. They provide you with all the convenience and flexibility needed. Most of the firms specialize in these types of coach hires, particularly in the UK, London. There are some firms that operate online and provide quotations to you, if you demand for the same online.

So, get off your seats and book your coach now to enjoy a journey free of hassle and stress and full of joy and excitement. Reach your desired destination in a stylish and comfortable way by going through this means of transport.

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So you’re getting global travel insurance, and you’re up to the pre-existing conditions section. You’re probably wondering whether you should declare and play it safe, or whether your predisposition to the sniffles is something to be brought to their notice. Hopefully this article will go some way to explaining the point of pre-existing condition surveys in global travel insurance, as well as explaining why you need to make it clear, and what is worth mentioning…

What are pre existing conditions?

When a travel insurance company offers you a policy, they consider the likelihood of you needing to claim on it. If you’re doing something potentially dangerous, like skiing say, then you’ll need a more expensive policy than someone planning on just seeing the sights of a city, because they’re more likely to make a loss on you. Then of course there’s the risk involved in covering the person going – certain people are more likely to have accidents than others. This is where pre-existing conditions come in. The idea is that people with, say heart complications, are more likely to need medical attention abroad than those who are as fit as a fiddle. It’s worth mentioning too that you need to declare these even if you are on medication that keeps them under control – you never know when something may go wrong, and you’ll need your global travel insurance company to foot the bill if the worst happens.

What happens if I keep them quiet?

Probably nothing… IF you don’t need to make a claim! If you do need to, and it comes out that you neglected to mention your condition, the travel insurance company are well within their rights to refuse to pay the expense. Make sure you have it in writing that your condition is covered too – take no risks, and you should be fine.

What conditions are likely to be worthy of mention?

Anything that you are taking medication for, or that you have a family history of suffering is worth covering – and if you’re in doubt, ask! The last thing you want to find is that your cheap travel insurance was worthless because the benign disease you’ve carried all of your life suddenly flares up in the sun!

Obviously some illnesses are going to send your premiums up, and these tend to be the ones that put you at a real risk: heart conditions, asthma, diabetes and allergies should be drawn to the insurers’ attention. There are certain conditions that many cheap travel insurance companies will flat out refuse to cover: serious kidney problems, strokes, cancer and HIV sufferers are unlikely to find cover, but are doing themselves no favours by buying travel insurance without declaring – because their claim will be turned down anyway, should they need medical attention while abroad. The rule is that global travel insurance is designed to cover unpredictable emergencies, and not the usual protection you’d get in the UK – if you need cover of that kind, then you need to pay that bit extra.

So the lesson of this is that it’s worth highlighting any serious conditions you have when ordering your cheap travel insurance, because if anything bad happens relating to the illness, then the policy may not be worth the paper it’s written on! It may cost you a little extra by way of premiums, but as of many things in life, here honesty really is the best policy!

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The purpose of Whiplash Compensation for pain and suffering following an accident is to try and put you back in the same position you were in before the accident. But how is this possible when you are talking about an injury claim? How can an amount of compensation make you better, take away your pain and make you feel as if nothing happened? Sadly, it can’t but this is the only measure or yardstick that can be used to try and make the situation better; i.e. financial compensation.

The compensation award is more straightforward when you are talking about your losses and expenses rather than your physical injuries. For instance if your car needs bumper and other bodywork repairs, it is easy to put you back in the position you were in before the accident by recovering the cost of the repairs.

The two different types of awards are called General Damages (the compensation for your pain and suffering) and Special Damages (the compensation for your losses and expenses). I will look at each in turn, tell you how they are calculated, and outline the main types and amounts of General Damages compensation payments.

Damages

Damages is the legal term used to describe the compensation, so for damages just read compensation.

General Damages

This is the compensation award that you will receive for your pain and suffering. Your sore neck, headaches, shoulder pains, giddiness and dizziness, and the impact that has on your day to day living. For instance, if you have a newborn baby and you suddenly cannot pick up or look after your baby, this will lead to an increased element to your award. Again, you would much rather not have had the pain so that you could hold your newborn baby, but all the court can do is to let you have an additional sum of compensation to recognise your suffering.

With any claim for compensation your solicitor will have to obtain evidence that he can show to the other side and to the court (although the majority of all whiplash claims are settled without the need for a final court hearing). The evidence he will obtain to support your claim for General Damages will be a witness statement from yourself and your family detailing the effects of the injury, and also a medical report. This will be from a GP or an Orthopaedic Surgeon. They will carry out a full medical examination and assess the extent of your injury, recommend any treatment and provide you with a prognosis which is their opinion of how long your pain will last.

Once your whiplash solicitor has this evidence, he will be able to estimate how much General Damages compensation you will receive. He will refer to previously decided cases, and also a book called The Judicial Studies Guidelines For The Assessment of General Damages.

This book splits the compensation awards for Whiplash into the following brackets:

£750 to £2500 for recovery within 1 year
£2400 to £4250 for recovery withing 2 years
£4250 to £7750 for a slow recovery of more than a minor whiplash injury
£7750 to £13750 for permanent whiplash symptoms

This is how your solicitor and the other side will agree on a settlement for your whiplash pain and suffering. So what about your losses and expenses?

Special Damages

It is much easier to assess your claim for Special Damages because they relate to actual and measurable losses. You will be asked to provide receipts and invoices for any expenses or losses sustained. The most common ones are detailed below.

Car Repairs.

The most obvious one, and an important one for you because if you do not prove that the accident was not your fault your insurance company will have to pay for the repairs and this will impact on your no claims bonus. You do not want to have to pay higher insurance premiums for somebody else crashing into your car. The invoice from the garage will confirm the costs of repairs.

Storage Of Your Car.

If the garage had to store your car whilst they were waiting for the other driver’s insurance company to approve the repairs, these charges will form a part of your Special Damages claim.

Car Hire.

If your car was off the road for a number of days and you needed to travel for work or personal reasons, it is reasonable for you to hire a car. However, you must hire a similar car to your own. You will not be able to recover the costs of a Ferrari car hire if you usually drive a Ford Focus.

Lost Earnings.

If you lost money from your salary packet as a result of time away from work, you will be able to claim this back too. Your wage slips will confirm the extent of your losses. Even if your employer kept paying you if you were away from work they might have a clause in their contract that makes you claim the money they paid to you back. You will therefore need to include this as part of your claim.

Treatment.

Whether you received private physiotherapy or chiropractic treatment you can reclaim the cost of treatment. Often the other driver’s insurance company will pay for this at the time of the treatment to save you from incurring the expense.

Travel expenses.

This can include travel to treatment or to the garage to collect your car, and is assessed by mileage or receipts from bus or train companies.

Damaged Items.

If any of your items were damaged in the accident, personal possessions such as ipods or sunglasses, you can reclaim their costs (you will need the purchase receipts).

Medication.

This can include pain killers, prescriptions or neck braces.

Any other expenses that have been reasonably incurred can also be reclaimed as part of your Special Damages Claim

Summary.

Your claim for Whiplash Compensation includes a claim for General Damages and Special Damages. Now that you have read this article you will have a good basic understanding of how your claim will be assessed by your solicitor.

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Even in family recreational activities like traveling with a trailer, safety is always your priority. Nothing can give you more peace of mind amid your camping or weekend vacations than knowing that your family, your property and the investment in your home on wheels (RVs) are secured and protected.

Whether it’s a long vacation, or a short one, or whether you plan for full-time traveling, travel trailer insurance policies will make you feel secure knowing that all your investments will not be put to waste in case you incur losses due to accident, theft, windstorms, or just about any kind of unwanted situation that might endanger your lives and that of your property.

Among the benefits of insurance are personal property coverage, trailer attached accessories coverage, towing assistance, guaranteed loss replacement, coverage for RV full timers, medical benefits, emergency expense coverage, purchase price protection, and campsite or vacation liability coverage. Many insurance providers also have specialized insurance programs that have optional policies that differ from these mentioned standard travel trailer insurance policies.

Many travel trailer insurance companies also feature discounts for owning multiple policies with them or for maintaining a good driving record. They also provide options to decrease your premium cash out by increasing your deductibles. Premiums are based on type, size, and cost of your trailer; your age; your gender; the address at which the vehicle is principally garaged; and the frequency of your trailer use. Renewal policies are usually based on a twelve-month period.

Since insurance policies vary from one state to another, you can always locate a provider near you, especially through online searches, and find out the available services offered in your area. Many companies also provide free insurance quotes and all the necessary information you need, so you have better options for getting the best insurance policy tailored to your needs.

A temporary or permanent RV lifestyle need not be risky or costly for you, just as long as you know the right security and insurance that you and your trailer need; you can always be reassured and have a rewarding and peaceful RV experience.

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Through writing solid articles you may help to improve your cash flow and sales. Article content can assist you in giving your business an additional supply of website visitors, prospective customers and prospects.

One of the most valuable approaches whereby you can obtain more prospective buyers is to write in a way that pre-sells your solutions or expertise. This is a means of getting the target geared up for what is to happen or by solidifying their awareness in your upcoming expert services or merchandise.

If you have a vacation internet site you may possibly need to create some content pieces about travel, the expense of traveling, cash saving vacation trips, getaways on a spending budget, financing of vacation trips and so forth. In the event that your document is of good quality and targeted to the area that you are attempting to catch, then the readers will feel a lot more keen to believe you, trust you and to go to your web page to view your items and expert services.

Excellent subject material is usually a safe bet with potential customers. Men and women require data and if that information and facts can salvage them free time or money then they will probably need more and more. Your content pieces can identify you as a specialist in the particular area of interest and can easily prepare the viewers for even more fantastic advice.

I might want to find out more if somebody has already given me great information. This is the type of thing we do every single week – we feel something good or of great benefit and thereafter are more prone to wish to go through that once again. This process is just what promoting is all about – making us really feel great – and it is no different with article writing.

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Now that you are a senior citizen, retired and ready to finally see the world, something you have wanted to do your entire life, you need to ask yourself, “Am I sufficiently covered in the event of an emergency?” The truth is that unless you have gone out of your way to make sure that you have travel insurance for OAP then you are probably not protected well enough.

What is OAP do you ask? Well OAP simply stands for old-aged pensioner; that’s you and when you have the right insurance coverage, not only will you be taken care of things if you are in an accident, but also if you get sick, lose your luggage or even lose your passport.

You never know when an accident is going to occur, by its very nature an accident is a freak event with no prior warning, in fact if you did know it was going to occur, we wouldn’t describe it as an accident in the first place. The old boy scout motto ‘always be prepared’ means that when it is time for you to go out and see the world, you have the proper travel insurance for OAP already in place.

Granted this insurance may initially be a bit more expensive than standard travel insurance, but then again you are also at a higher risk of getting sick when exposed to new bugs and viruses in the place you are planning on travelling. If you get into an accident you are more likely to get injured even when the accident is not all that bad to begin with. However, when you compare the costs of this insurance policy against that of being hospitalized; you can easily see that it is a much cheaper expense to deal with on a limited income.

Be prepared and be ready for the unexpected as you set off on your travels. Make sure that long before you even book your flight, that you take the time to research all the various travel insurance for OAP policies that are available. Find the right one for you; this will most likely be the one which offers the best balance between costs but without sparing too many benefits in the plan. The last thing you want to do is to take up the cheapest plan only to find out after an accident occurs that you are not fully covered.

Be safe and of course have fun. These are your golden years and they should not be spent stuck at home, but rather out and about seeing the world. Just make sure you have enough travel insurance protection for the just-in-case situations which might occur.

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Several of my customers tell me they hate dealing with one or more of their customers but are glad they still have their sales volume to keep everything going during this downturn. I suspect you or some of your managers feel the same way.

I can’t help but laugh every time I hear this and am always proud when business holds all customers in high regard. I have always taught my clients that customers are the reason they are in business and all employees must be trained in the highest level of customer service and quality. The customer will always be King in a capitalistic economy.

With that said, you must make sure your business is profitable to continue to serve your customers. We have all seen what we thought were great businesses that just disappeared. Even the most customer oriented business has to make a profit. More often than not, small business works so hard in controlling their sales volume that they take their eye off the bottom line. This is especially true during economic downturns. Have you worked hard to keep your current customers happy and on board by reducing prices during this current downturn? Let’s review what your philosophy should be toward your sales volume.

Using your annual operating budget, you must define what your “survival level” is. What employees and fixed costs does your business require to stay alive? Defining your core employees and fixed costs is always a challenge but one that you should undertake every year. I always encourage my clients to look at three versions of their annual operating budgets – the worst case, the best case and the expected case. The scenario I am speaking of here is the “Worst Case.” In our current economic times, the worst case can also be termed the “survival level.” Many business managers gloss over the worst case scenario because they truly believe their expected case scenario is correct and they should manage the business based on those expectations. This downturn has many of my clients taking a much stronger look at their worst case and truly defining their “survival level.”

After defining your “survival level” costs, it is much easier to determine what your sales volume must be. Your gross margin expectations on those sales will also be a factor in your Total Revenue calculation. If you are in a situation where you have to trim your sales prices for your customers, it will take added volume to cover your survival costs. Once you have determined your cash breakeven level, you have also determined your “worst case” scenario. I define the “cash break even” level as an annual net loss equal to zero when your non-cash expenses – depreciation, amortization, goodwill, etc. – are added back to your annual financial statement net loss. As an example, the annual net loss of $120,000 is at the cash breakeven level for your business when you have $120,000 of depreciation and amortization. In 2008 and 2009, many small businesses would consider this loss as their worst case scenario.

Always using your mission statement as a guide, a small business can now start laying out their customer requirements. Don’t forget, however, that new customers and new product offerings must be listed in your customer requirements. While forecasting customer requirements in an economic downturn is never an easy situation, this exercise will result in a clear vision of which customers and what volume levels are required for your three operating budget scenarios. Many clients also discover this as a great base line for sales personnel incentive compensation plans. Like every small business owner, I love combining tasks and making life easy and simple.

The next step in this process starts with your spreadsheets for each customer. These spreadsheets list their products, annual volumes and pricing. Your accounting department should examine this information for the gross margin possible at the volumes and pricing levels expected. This gross margin information should be added to each customer spreadsheet to provide you and your sales department a very clear view of each customer and their importance to your business. If you have hundreds of customers, I would recommend performing this evaluation only on those customers who contribute 5% or more of your overall sales volume. Business normally works on the generic 80/20 rule. A select few of your customers will make up 80% of your total volume with the majority of your customers falling into the bottom 20%.

While your accounting department is finishing their customer review, it is now time to get all departments involved in this process. Each and every department must define any specific issues with each customer. Are there any employees that specifically handle one or more customers? Does a customer more frequently have return product or quality issues that require additional cost? Does the sales department spend an abnormal amount on travel or entertainment expense for a customer? Does a customer always pay late and take additional deductions? All these issues have a cost to your company that can be defined by your accounting department. I have seen a business think they were making a great profit on a particular customer until they discovered that they were employing three clerks to handle their specific paperwork, had to fly cross country monthly to buy them dinner and had to write off 5% of most shipments for quality issues that no other customer had.

Finally, you now have the true revenue for each customer on a simple to read spreadsheet. This entire process can take anywhere from a week to several months to put together depending on your size and number of customers. It is, however, a true eye opening event when you reduce each customer to an objective set of numbers. All the emotion and subjectivity is gone and you can now see a customer’s impact on your business. Every client I have converted to this review process has kept it going on an annual basis as part of their operating budget process. The sales department initially pushes back on this exercise because they look primarily at the top line number on your financial statements. Converting their focus and incentive compensation plans to the “net” value of a customer will always improve your company’s bottom line.

Firing customers is always a difficult concept for every business. Your business and every business in the world is established to find customers and build these relationships. Your mission statement probably even has a phrase or two describing how customer satisfaction is a high priority. It is inherently wrong to fire customers.

This is a very difficult concept for most business managers but it does separate the winners from the losers in the free enterprise system. I just finished working with one business owner who would not even consider asking for a 10% price increase even though he was barely breaking even. This customer’s new packaging and shipping requirements had increased his costs significantly. My client said that this customer was having a tough time and he couldn’t cause this company any problems. While I strongly believe that quality, integrity and credibility must be the foundation of every business, sympathy is the cornerstone of a closed business. My ex client understands that his 60 employees and his business are at risk but he has made the choice to put his company in this position.

Are you willing to place your company in this position?

If you have a sincere desire to protect your company’s future and the future of your employees, you must look objectively at your customers and allow your company to control which customers you want to deal with. This is your company and you are obligated to control its direction. Be aware that my use of the phrase “firing some customers” should be accomplished in a very customer friendly fashion. Never terminate a customer as you would an employee. Raise prices, drop specific packaging, change your distribution model or find a way for this customer to choose not to do business with you. Never burn any bridges because this customer may become a great prospect again in the future.

I once saw a client terminate his sales manager after a long time customer accepted a 25% price increase. This customer amazingly told the owner that he was surprised they hadn’t asked for an increase earlier because they were much cheaper than his competitors. This client went from a small business making about 2% on Sales to a medium business making 5% on Sales with just this analysis. This client lost 10% of its customers that year and now completes this customer analysis every year in their annual budgeting process.

You and your staff work hard every day and probably spend well more than a forty hour week running your business. You probably don’t need any more practice so make sure you are making a profit in everything you do. It is your responsibility to ensure the long term health of your business for your employees and your own family.

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There are three ways people try to record reimbursable expenses in QuickBooks, but only two of them should be used. Here are specific details about each, with ideas about which you should use.

Method 1 – The Expense Tab/Expense Account Method: When recording an expense incurred for the customer, click the Expenses tab from the Write Checks or Enter Bills screen. Select the appropriate expense account, select the appropriate customer, and do not check the column with the invoice icon above it (also labeled “Billable” in later versions of QuickBooks). Save the transaction. You can now generate an invoice for the customer, and drop the transaction into the invoice after clicking the Time/Costs button.

Behind-the-Scenes Details of this Method: Using this method causes the expense account to be credited when the invoice is generated for the customer. This lowers the expense account rather than increasing a sales/revenue account. If users want this – if users do not want the reimbursed expense to be recorded as income, then this method should be used.

Method 2 – The Expense Tab/Cost Account Method: Similar to Method 1, click the Expenses tab from the Write Checks or Enter Bills screen when entering an expense for a customer. Instead of selecting an expense account, select a COGS account. Then select the appropriate customer. Unlike with Method 1, notice that the column along the far right side cannot be checked.

Behind-the-Scenes Details of this Method: It creates unbillable “Unbilled Costs.” These will show on the Unbilled Costs report, but when the Time/Costs button is clicked on the Invoice screen, they do not appear in that window. In other words, these will remain, forever, on the Unbilled Costs report ,and can never be dropped into a customer’s invoice. Because of this, this method should never be used under any circumstances. If it is necessary to post to a COGS account, follow Method 3.

Method 3 – The Items Tab Method: Go to the Items list, and create a new Other Charge item. Click the box that says, “This item is used in assemblies or is a reimbursable charge.” This sets up the item so it can be used effectively on the Write Checks/Enter Bills screen, and the Invoice screen. Fill in the item with the desired COGS account in the left hand box, and desired revenue account in the right hand box. Fill in other information as needed.

Then, when writing checks or entering bills for reimbursable expenses, instead of using the Expenses tab, click the Items tab and select the item just created. Fill in the correct amount, and do not place a checkmark the column on the far right side. Save the transaction.

When invoicing the customer, click the Time/Costs button, and the item used above will appear. Select it, and QB places it onto the customer’s invoice. Save the transaction.

Behind-the-Scenes Details of this Method: When using the item in the Write Checks, Enter Bills, or Enter Credit Card Charges screens, the amount will post to whichever COGS account was chosen when setting up the item. When using the item in the Invoice or Sales Receipts screen, the amount will post to whichever revenue account was chosen when setting up the item.

This is the method to use if you take a markup on the reimbursement. It adds the customer’s reimbursement to the revenue, and is the only method that allows for a gross margin to be determined without creating unbillable “Unbilled Costs.”

This method can be difficult because it takes some thought to get the Item set up correctly. In the Edit Item screen, careful attention must be given to assigning the correct COGS account on the “Purchase Information” side, and also to the correct sales/revenue account on the “Sales Information” side.

Another reason this method can be difficult is that your company may want to post to various revenue and COGS accounts for various reimbursable transactions. If this is the case, then individual Items will need to be established, each customized according to the accounts they need to post to.

Final Thoughts

Most people will probably follow Method 1, but a few will want to follow Method 3. If you need more help to decide, seek professional advice from a local accounting expert.

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If the IRS had it way, every dollar you spend on marketing would be classified as an investment and subject to amortized deduction versus a lump-sum deduction. The argument does have merit and until the tax laws change, you have a governmental stimulus package of your own.

The difference between an investment and an expense is simple:

1. Investment: your investment grows in value as the results are earned. For example: you purchase decompression equipment for $100,000. You are allowed to deduct the investment of the life of the equipment. Let say 10 years. You get to deduct $10,000 per year from your pre-tax profit, as you earn income from putting the equipment into service. You purchase stock… no deduction for your investment. You seek an increase in the value of the stock purchase and then you pay on your capital gains.

An “investment” is not deductible at the time yu make the investment, but may be depending on the type of investment over time.

2. Expense. The cost to do business is deductible from your pre-tax profit. Income – Expense = Pre-Tax Profit. If you pay rent for your office, then you are allowed to deduct 100% of your rent payment in the taxable year that you made the payment. Payroll is also an expense under the tax code, as any normal and customary expense.

As of this article, “marketing” is deductible as an increase. This is a tax advantage in your favor. If you incur costs for a marketing campaign, you are allow to deduct immediately in the current taxable year…. it reduces your bottom line taxable liability.

But, here’s why the IRS would like to change the marketing expenditure from an expense to a deduction: Marketing as a long-term benefit to the practice. Put a sign on the building and it will remain there for years, yet you may have deducted the cost in the taxable year the cost was incurred. In other words, you wrote it off as an expense and for the next few years it will be at work attracting patients to your office.

The IRS would prefer to amortize the “investment” in the sign over a period of time and only allow you to deduct the annual depreciation of the sign.

Same applies to advertisements. One an ad in the local paper and you will generally deduct the cost in the current taxable year. However, the ad could be continuing to work for you as some people may have torn out the ad and kept it for later reference.

The tax-advantage nature of expensing marketing is powerful. If you are in the minimum federal tax rate of 38%, then your total marketing cost is reduced by 38%…. giving you an instant ROI on your “investment.”

Here is how that works:

If your marketing was $10,000 and you deducted in your current taxable year, then your taxable liability would be reduced by $3,800. And, if you have state or local taxes, your taxable savings would be more. Invest $10,000 into marketing and you get a $3,800 tax savings… pretty cool.

On the other hand, if you didn’t invest in your marketing, your taxable income would be $10,000 higher, and you would need to send Uncle Sam a check for an additional $3,800! That’s a 7,600 SWING!

Marketing is one of the best investment you can make if you desire to grow your practice.

Marketing should always be considered an “investment” but accounted as an expense. The best of both worlds. Now, when you invest in marketing, you not only get the tax advantage, but you should increase your revenue with the results of your marketing efforts.

For example: hire a marketing person and the salary is deductible…. 100%. The effort and performance of the marketing person should generate an increase in revenues that exceed the cost of the person. If not, you have the wrong person on your T.E.A.M. Remember, any marketing investment should deliver a return on your investment.

How much? As long as it greater than what you can earn with other investments…. it is a good investment!

Peak your practice when you “invest” in marketing.

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