U.S. tax laws give small business owners many ways to earn refunds on their taxes. According to a recent Huffington Post article, there are some beneficial moves a business can can with this money, including outsourcing projects, upgrading your technology, and improving your processes.
Outsourcing projects - Many small businesses do things in-house rather than outsourcing projects. Getting a tax refund may finally give your small business the financial flexibility to outsource tasks like accounting or customer support.
Upgrading your technology - Technology is evolving daily. A tax refund can give your small business the resources for upgrading your technology. According to marketing automation solution provider, Hatchbuck, "Marketers using automation tools have seen conversation rates reach upwards to 50%." Automation and an upgrade in technology can be just what your small business needs. Vertex Cloud provides a sales and use tax automation solution that is right-sized for your growing company.
Improving your processes - Although changing your processes can be a intimidating task, the excess money from your refund can help you manage this transition period. As a vital part of your business, it is important you have a process that can lead to lower costs and growth opportunities.