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  • Other Added - Avoid Frequent Tax Mistakes by Keeping Good Records

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    1. Not saving receipts for expenses under $75.00. There are some exp

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    It is important for small business owners to keep good records. Complicated tax laws cause many small business owners to make mistakes in bookkeeping and record-keeping. However, business owners can avoid making some of the common mistakes with a little forethought.

    Following are some of the common mistakes small business owners make and how you can avoid making the same mistakes:

    1. Not saving receipts for expenses under $75.00. There are some expe

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    any small business owners to make mistakes in bookkeeping and record-keeping. However, business owners can avoid making some of the common mistakes with a little forethought.

    Following are some of the common mistakes small business owners make and how you can avoid making the same mistakes:

    1. Not saving receipts for expenses under $75.00. There are some exp

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    ss owners can avoid making some of the common mistakes with a little forethought.

    Following are some of the common mistakes small business owners make and how you can avoid making the same mistakes:

    1. Not saving receipts for expenses under $75.00. There are some exp

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    wing are some of the common mistakes small business owners make and how you can avoid making the same mistakes:

    1. Not saving receipts for expenses under $75.00. There are some exp

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    1. Not saving receipts for expenses under $75.00. There are some expenses the IRS does not require receipts for - meal and entertainment expenses if the cost is under $75.00. However, you still need a record of what you spent, where, who you were with, the business relationship, and the purpose of the expense. When you look at the requirements it is in your best interest to keep the receipt with written information about whom you went th

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