The 10 Biggest Tax Mistakes Small Businesses Make:
- Failing to report information as it’s reported to you.
- Filing certain forms and schedules.
- Failing to properly apply limitations.
- Not keeping good records.
- Overreporting income.
- Forgetting carryovers.
- Not claiming the home office deduction.
- Misclassifying workers.
- Not filing on time.
- Using the wrong tax professional.
(To learn how to avoid making these costly mistakes, read more here.)