Generally I recommend cutting first if you are higher body fat levels than you want. Being at a lower level can help with insulin sensitivity and making the bulk more productive IMO. Doesn't have to be drastic either, but a small cut then bulk for a certain period, then cut again, etc.
I personally like 3 months bulking (slow, not huge weight gains), a month at maintenance to try and stabilize that weight (if I cut right after a bulk a lot of times I personally just drop too fast), then a 4 week cut (but I stay really lean anyways so don't need much), then repeat.