There’s not an entrepreneur on the planet who likes thinking about taxes. I know, it’s only February, so you’re likely still in deep denial about April 15. But it’s time to get organized! Almost every aspect of your business has tax ramifications and if you don’t know what they are, you’re inviting trouble down the road (can you say “audit?”).
For tips, I recently spoke to Sandy Botkin, a CPA, attorney, former trainer of IRS attorneys, and the CEO of The Tax Reduction Institute in Germantown, MD. He’s also the author of “Lower Your Taxes — Big Time 2011-2012.” Botkin shared 10 common tax misconceptions that both fledgling and experienced small business owners are guilty of. How many of these phrases have you uttered?
To read the full, original article click on this link: 10 Small Business Tax Mistakes That Will Cost You | BNET
Author: Donna Fenn
