Did any other business owner try to get money off their balance sheet at the end of December by buying a bunch of cards?
If so, what did you buy?
This is what I bought
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Are Pokemon cards something that your business can purchase? I actually contemplated asking my accountant this. My company isn’t Pokemon though, it’s software development.
I don’t think they’d be eligible to treat as assets, but could they be classed as a company investment? If so, does that mean that they count as losses to offset against corporation tax? This could get interesting lol.
I think he is referring to Pokemon related businesses, and most likely in the US as here in the UK the financial year runs until April.
I’ll be doing my major purchases for the year ahead between next month and March as I am currently focused on business growth rather than wealth extraction, so its a good way to offset my balance sheet.
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My company is listed as a trading/gaming company so yes, this is one of the perks of it!
@chavycat, great choices for cards.