This week, Amazon holds one of its regular Prime Days where they significantly discount a large collection of products. But let’s be honest; Amazon does not need the sales and there is a lot more behind these discount days than just trying to be a good neighbor.
Amazon is one of the largest entities on the planet. They do not need that $42 you are going to spend on a discounted product to save $5. Your data is worth more than that discounted rate to them. The real question is whether you value your data, privacy, and product quality more than a quick sale.
If you are still considering Amazon Prime Days and providing unfettered access to your data, here are a few more items to consider:
Don’t Buy for the Sake of a “Deal” While you may be able to afford an item on sale, are you really buying it because you need it or because it is on sale? If the item wasn’t something you would typically purchase, are you really benefiting from the sale?
Most of the “Deals” Are Retail Most of the products that Amazon discounts on these days are retail and not designed for a corporate environment. Retail products have lower quality and, when it comes to computers, are typically bloated with excess software that could track your activity. It’s better to invest in real corporate technology than to save $100 on a retail machine. That discounted paper? All you - go for it!
The Tax Deduction is Only Worth It if Needed We tell our clients this all of the time. If you don’t need it, don’t buy it for that tax deduction. Focus your financial investments on where they bring fruit, not just where it feels like a deal.
Pushing Generic Products There has been a growing trend the last several Prime Days where Amazon is promoting their Amazon Basics or generic products. Again, like above, that discounted lightbulb might be ok, but that consistent product and brand has a proven track record and reliable delivery.
Is it Really Discounted Every Prime Day, there is a large debate over the validity of the discounts as Amazon has a history of increasing general pricing so that the deal looks larger or more beneficial while you may pay the same (or even higher) than average.
Obviously, make the best choice for yourself and your company, but anytime something seems too good to be true, it probably is. You are more than likely better off creating a list of essential items you need and monitor those specific items for reduced pricing.
If you do not fully understand an issues or if you need assistance working through a resolution, the team here at Financial Guardians is available for Individual Support Calls to assist with any individual or specific matters.
Financial Guardians is a proud member of InCite, the recently launched online community exclusively for tax professionals, bookkeepers, and accountants. InCite members receive a 30% discount.
Financial Guardians has partnered with the California Society of Tax Consultants to provide a 30% access discount as well as many other offers. More info can be found at www.cstcsociety.org
