Anyone managing any kind of budget has surely come across a version of “You need to spend money to make money”.

Without any kind of guidelines or caveats, this can actually be a very dangerous statement.

Unbridled, that mindset could actually lead an organization to bankruptcy.

I would argue that we need to invest money to make money, and not all business purchases are an investment just because we really, really, want something. That desire alone doesn't turn it into an investment. Sometimes, it is just plain old spending.

As the year-end approaches, many business owners are having conversations with their accountants about taxes. And it might be tempting to try to reduce a business’ tax load by spending money. But it's important to take a moment to consider what that money will actually provide in return.

So, what can we do to help guide our thinking and help us make the distinction between year-end investing and year-end spending?

Consider the expense itself

...

For the longest time, just using the words “fully remote position” was enough for some small businesses to be flooded with resumes from top talent. Now, with big names such as Twitter and Slack embracing remote work for the long-term, this will likely no longer be the case.

Such massive changes in the remote landscape might have some small-business owners wondering what they can do to prepare themselves. After all, larger organizations might be able to offer various career paths, higher salaries, fully paid medical and dental benefits, unlimited vacation, equipment, paid-for internet, covered accounting costs and so much more. If the recruiting space is now filled with such employers, how can a small organization compete?

Does that mean small businesses have to sit back, wait and be grateful for whatever leftovers come their...