Print or Share :

Are You Making These Tax Mistakes?

Are you operating a new business or thinking about starting up a company? There are a lot of factors that go into this process, such as filing your taxes—and getting those numbers right. To avoid legal repercussions or leaving money on the table, it’s important to be thinking about taxes right now.

To stay on top of your tax obligations, an article from Entrepreneur suggests avoiding these 5 tax mistakes:

  1. Not tracking your expenses
  2. Overlooking start-up costs
  3. Treating equipment and supplies the same way
  4. Misclassifying your employees
  5. Not taking an office deduction if you work from home

Don’t get stuck with extra costs as a new business. Find more in-depth details about tax mistakes that start-ups make here, and always consult with a tax advisor about specific tax-planning strategies.