I’ve been a fan of apples since my first powerbook, g4 they picked up when I was just 15 years old. Now if you’re anything like me, you probably owned your fair share of Apple gear over the last few years. It’s expensive, and it’s expensive because they make amazing products. And in some cases, for over 50% of I’m going to show you multiple examples of how you can do the same thing. And hopefully some of you will be able to adopt the same approach.

So the first part of this video is going to be talking about the Apple refurbished program. Now if you’ve already heard of Apple’s refurbished program, then great, but so many of my friends don’t seem to be aware of it at all. So I thought it would be covering in Case you have missed it. And before you start thinking, oh god, he’s talking about some secondhand products. Bear with me, because apples reefer program is different to other reefer products out there. There’s kind of no other company in that world that comes close to matching this program, with maybe the exception of Patagonia, who have an unbelievably good used clothes program called to wear. Anyway, we’re getting sidetracked.

So the first thing to say is that Apple refurbished products are amazing, not in way that Apple refurbs feel or look like us products, it basically allows you to get up to 15% of almost new releases, and sometimes even more discount or even older products. To get to the Apple refurbished or just scroll down to the bottom of Apple webpage, and click on the Apple refurbish link in the footer. Interestingly, Apple doesn’t really call attention to this in of their marketing, so you will need to know that it’s there. Just a side note here, guys, I’m on the UK store here. So what I can see will be different to the US dollar or the Canada store, or anywhere else you are. And these products change daily.

One thing I would say though, is that stuff goes very quickly. If there’s something you really want to just keep your eyes peeled, be patient, and eventually something will pop up. You’re not going to see brand new stuff on the refurbished store. But after about 12 months, really new things will start to pop up. So just be ready for that. Also, just be aware that the exterior of the boxes, the refurbished product comes in can sometimes be a little bit different. And it will always say Apple certified refurbished. So if you’re buying something a gift, like I often do, just make sure you’re upfront and honest with people about how it’s a refurbished product. And the boxes may not be colorful they sometimes are new.

The great thing is though, these products basically feel and look brand new, and Apple treat them new. So you still get the one year warranty, which is pretty cool. But basically, you can get really great products on here at unbelievable prices and save a nice chunk of dough. Hot Tip, if you’re a student, you can sometimes get discounts and things up to 15% of brand new, so head over to the education store for that instead. So now that you’ve got to grips with the Apple refurbish program, the next element to this video is sales tax. So in the UK sales tax is called VAT, which stands for value added tax, which at the moment is 20%, which is pretty high.

But really, if you’re a registered business in the UK, you can claim back business expenses. And now because I run my own business, I can claim back sales tax against purchases I made, which could be expenses for my business. And because I work from home, a lot of investments can be claimed back valid business expenses. If you’re based in the US, you can claim back tax deductible business expenses, check the specific law in the area get into this.

Now it’s important to remember here that you need to be able to prove that you’re buying is a legitimate business interest, ie personal use for the thing you’re buying is rare or infrequent. they’re classified capital expenditure, or capex rather than operational expenditure objects. The difference between the two is items classed Catholics have a limit on what you can claim back in a single year.

In the UK, for example, this is set to 1 million pounds, so unless you’re Gordon Gekko or Marcus Brownlee, then this probably isn’t something you need. to worry about something like a laptop or a camera, for example, if you’re a YouTuber, these things are going to be very easy to legitimate business expenses. But for other things, it’s a bit more tricky. So just make sure you check with your accountant first, what you’ll be able to expense, In the UK, at least, it is straightforward. Just make sure you can prove to your accountant that you’re using items for business. So that’s VAT or sales tax, which in the UK is 20%. But things don’t end there. And we need to think about income tax.

So when you claim back business loans, not only you’re getting 20% VAT back on the product you’re buying, but you are reducing your business profit by buying equipment. Now, this is a really important Point, because basically in the UK, if you’re a freelancer or business owner, there are really only two ways you can take money out of your business. The first is dividends. And the second is a fire a salary. Regardless of which of those options you choose, you still have to pay some sort of income tax. In the UK, if you earn between 50,000 and 100,000 pounds a year. Regardless of which of these options you pick, the tax, speaking works out at 40%. If you’re earning over 50,000 pounds, an income tax jumps to 45% over 150,000 parts.

So to keep things simple, let’s find dividends payments are taxed in the same way income tax, which to a lesser extent, much. Now, let’s say your business profit is 52,379 a very specific number, but there’s a reason which using that, and I’ll explain in a second. But, the tax you’re paying on anything over 50k is 40%. So this means you’re going to be taxed 40% on 2379 pounds, which is 952 pounds. Now remember this number because it’s going to be important in a second. armed with this new knowledge, let’s look at some practical examples. Let’s say you want to buy a brand new 16 inch MacBook Pro for your business.

While the eight core i nine baseline model has a price of 2799 pounds in the UK, because you’re willing to buy a refurbished one that’s basically like new, you can pick one up for 2379 pounds on the Apple refurbished door, which is an original saving 420 pounds, or 15% off, then on top of this, you take an additional 20% off the VAT when you claim that back the further saving 476 pounds. So our total saving so far is 896 pounds. But now because you’ve removed expense your business profit, you’re saving yourself 40% tax, which means a saving of 952 pounds if you remember that number from earlier.

 So now combined with our savings from the Apple refurbished store and the VAT we’re claiming back are total saving is 1848 pounds. This saving when divided by the original price of the laptop at 2799 pounds is 66% of the original price, which effectively means you’ve just bought an almost brand new MacBook Pro for 66% off. Just think about that for a second. That’s a saving of 1848 pounds, which is an insane amount of money. And the best thing about this approach is you can do this for product that you can legitimately use for your business. So let’s look at an iPad. For example. There’s an iPad Mini five on the restored UK website at the moment, going for 339 pounds, reduced from 399 pounds. So already, that’s a 15% saving, which is 60 pounds.

Now let’s take off the 20% VAT from the sales price, which gives us another 68 pounds. And before, let’s take off the 40%, which saves us another 136 pounds. So all that added up, that’s a total saving 264 pounds. So again, That’s a saving of 66%. And if you’re wanting to have an iPhone model, or anything else that’s a year or so old, like the iPhone 10, which by the way, was a brilliant phone, and I went straight from the 10 to the 12 you can save even more. So in this example, you’re starting at 35% off already from the Apple refurbished store, then another 20% VAT down another 40% for the tax you’re saving, and that’s a total of 74% off.

These are crazy numbers, guys, and I’d really recommend having a look into this. So anyway, that’s pretty much all I have to say about this. If you want to be smart with your money, I really encourage you to think about where your taxes going because you be quite surprised. And then you can make savings. Definitely go and check out Apple refurbished if you’ve not heard of it before, and if you’re thinking about Becoming a freelancer, sole trader or a business owner of kind. This is really going to save you a lot of money if you use it the right way.