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It’s Time to Start Planning for 2019

Posted: 11/26/2018

Though you’re likely in the middle of fulfilling tons of holiday orders, now is the time to start thinking about your business in 2019 – and what you should do now to get started on the right foot.

Even though your inbox may be overflowing with orders, the clock is ticking on some important dates for your business. New Year’s Eve is the last day you can take advantage of some business tax breaks in the US. Here are a few things to think about while you’re furiously printing and pressing during these last few weeks of the year.

Are Your Business and Marketing Plans Up to Date?

We talked earlier this year about the importance of having business and marketing plans. If you already have them, now is a good time to stop and look at your business in relation to planned goals. Where were you successful? Where did you fall short? What doesn’t make sense for your business anymore? Time and experience can lead to revisions of your original plan, and your successes from this year can become the building blocks of even greater goals in 2019.

If you don’t currently have a business or marketing plan, now is the time to start them. The most successful businesses are ones that create a roadmap for going from startup to sustained income and growth. For 2019, you want to have established market research, financial planning, specific goals, expectations and milestones, as well as plans for managing changes. This time next year, you’re likely to be more profitable and wondering why you didn’t build these plans sooner.

New Equipment Now, Tax Break in April

US tax law allows for equipment purchased for business use before the end of the tax year to be deducted in full when you file your taxes. Section 179 of the federal tax code allows businesses to deduct 100 percent of any qualified equipment purchases in the tax year in which it was purchased, rather than collecting a deduction for depreciation over the next five years.

In other words, if you purchased a new printer for your sublimation business that costs $1,600 before the end of the year, you could deduct the entire amount on your 2018 taxes, which would reduce the amount of taxable income.

Consult with a tax professional to see if this is the right idea for your business. Outside of the US, there may be similar types of situations that you can take advantage of for your business. Check with your tax and business authorities to see what options are available.

Holiday and End-of-Year Deals

Your suppliers may be offering holiday sales and end-of-the-year deals. Many of these deals offer steep discounts on printers, inks, substrates, paper and other essentials. Take advantage of these savings now!

You can get a jump on stocking up on inventory for next year, qualify for the Section 179 deduction and still get significant savings.

Sublimation suppliers often have Black Friday savings and packages, as well as continual sales and discounts throughout the holiday season.

This is a great opportunity to try out new products, build sample kits, refresh your stores of paper and ink (Sawgrass ink has a shelf life of 18 months!), get that mug press or second printer you’ve been thinking about and start out 2019 with a bang.

Fresh Graphics Every Month

Did you know that Sawgrass is now offering premium content in CreativeStudio? Hundreds of new exclusive graphics and print-ready templates are being added to monthly as part of the new CreativeStudio Premium Pack subscriptions.

There are three options available:

  • Holidays & Special Events: 50+ new images/graphic designs & 20+ new print-ready design for $9.95/month
  • Sports and Fitness: 50+ new images/graphic designs & 20+ new print-ready design for $9.95/month
  • CreativeStudio Plus: 100+ new images/graphic designs & 50+ new print-ready design across almost all categories in CS, EXCEPT those in the other premium packs for just $19.95/month

See what all is available by browsing the CreativeStudio library, which will have premium images marked. Subscribing is easy! Go to https://www.sawgrassink.com/Store/Products.aspx and choose one, two or all three packs.