There are two main reason small businesses make tax mistakes, and fortunately, both are preventable. Find out what they are so you can avoid these legal landmines.
Small-business owners can get into trouble with their business taxes for a number of reasons. But the main culprits may not be what you think. You might be tempted to chalk up the majority of tax troubles to financial difficulties. And yes, sometimes it’s true that business owners don’t have enough cash on hand to pay the tax bill and can’t borrow to cover it. Once the business falls behind on tax obligations, it’s hard to catch up.