Back in April, the QuickBooks Online blog offered an infographic showing the biggest tax mistakes for small businesses. We’re past tax season now, but it’s still worth checking back in several times throughout the year to make sure we’re keeping our ducks in a row.
Here are some of those key mistakes that are especially valid throughout the entire year:
- Not keeping expense documentation
- Borrowing from employee withholding
- Assigning unreasonable compensation
Talk with your tax professional about other things you need to be doing from May through March to make sure April doesn’t bring with it some major tax storms.