It’s that time of year. When preparing your tax return, even a little mistake can cause problems. You could end up with a larger tax bill than you should, your refund could be delayed, or ever worse, you could get audited.
Here’s a list of the most common mistakes that could be costing you money:
Do you need your small business bookkeeping cleaned up? Don’t worry I get it. You fell behind on your books. It happens to many small business owners especially when they are just starting out. After all, what is more important in business than making sales, right? However, at some point, you need to just get that bookkeeping mess cleaned up and caught up. And you want to make sure you never face this situation again.
Do you drive in the course of running your business? If so, there’s a tax benefit you might be able to take advantage of.
The miles you put on your odometer or the cost of using your car for the following types of drives can be deducted from your business taxes:
For many small business owners, one of the perks of having your own company is the opportunity to contribute to causes in which you believe. Charitable giving has many benefits including tax deductions, marketing opportunities, and employee engagement. To make the most of your charitable giving, make sure to follow these guidelines.