Don’t Let The Tax Tail Wag The Dog!
What do I mean by “The Tax Tail Wagging the Dog”? Think of your business as the dog and think of the tax implications of your business activity as the tail. When you as the business owner makes a business decision “solely” based upon what the tax implications of that decision may be, then you are guilty of letting the tax tail wag the dog. The implication is that the whole focus and reason for making your decision is based on the tax impact.