I never understood how people go into business and yet they never want to spend money to grow. I remember one of my mentors, who is now an associate commissioner of a prestigious collegiate athletic conference, would always tell me “scared money don’t make no money.” Basically meaning don’t be afraid to takes risks.
With Merch by Amazon, we have been presented a way to make money with no tangible products like FBA. We can literally design a shirt, sell it and never touch the product. However, with a business like this, it can bite you in the butt come tax season.
What are we suppose to write off come tax season if we’re not buying and reselling physical products like we do on FBA? I’ve mentioned this many times on several episodes of the Merch Minds podcast. Don’t be afraid to buy services and digital products for your Merch by Amazon or any other POD (print on demand) businesses. Utilize them to grow and at the same time benefit from writing them off during tax season.