Keeping track of my business

Looking for input from small ( or large ) business owners not speculation, thanks.

Someone made a comment to me recently that I wouldnt see the owners of the shop I am employed with now for several weeks. This is not the first time I have heard this from fellow employees at the end of the year as we are in now. The comment was followed by the statement that the boss was out spending all his money so that he would be within a lower tax bracket.

Ok I get this but I am confused in that the shop although well equipped could sure use some stolen/abused equipment replaced and this will almost surely not be done anytime soon.

IRS will only allow certain deductions to take place ( there is a guideline although I have been told that it is sketchy ) so what could these business owners be doing with this money.

I am certain that its not going to some charity but more likely blow up their nose.

I just recently learned that my wages ( and my wife's ) were tax deductible. ( Shows you how much I know about small business ) I have been wondering why small business owners that I have spoken with have mentioned that they get a salary, it had me confused cause in anticipation of start-up expenses I was not planning on drawing a salary for several months but now that this has come to light I guess I had better figure out a way to pay myself one way or another.

My wife suggested this A.M that possibly end of year bonuses were tax deductible, that maybe my current employers gave themselves a tax deductible bonus and they are out spending it.

Is this a possibility?